San Francisco Fed’s Daly: Economy doing better than expected

WASHINGTON (AP) — Federal Reserve officials are divided over how quickly they should adjust their policies, with interest rates ultra-low even as the U.S. economy swiftly improves. Should they begin to withdraw their extraordinary support for the economy relatively soon? Or should they hold off until the job market has moved closer to full health? In an interview this week with The Associated Press, Mary Daly, president of the Federal Reserve Bank of San Francisco, suggested that the economy “is really shaping up nicely right now” and is “able to start functioning more and more on its own, which means we can withdraw a little bit of our accommodation.”