(Reuters) – Interest rate hikes aimed at bringing down too-high inflation will slow economic growth but will not tip the U.S. economy into recession, San Francisco Federal Reserve Bank President Mary Daly said on Tuesday.
“I’m not expecting that we’ll fall into recession,” Daly told a meeting of the Native American Finance Officers Association in Seattle, noting there is a lot of “momentum” in the economy.
“We could slow so it looks like we are teetering close to it, that’s possible, but it will be a short-lived event I expect, and then we’ll be back up.”
(Reporting by Ann Saphir; Editing by Chris Reese)
