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Fed's Daly: growth will slow, but don't expect economy to shrink

FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir/File Photo

(Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Tuesday said she believes the U.S. economy will slow to below 2% annual growth as the Fed raises interest rates, but there’s enough momentum that it won’t stop growing.

“I do expect the unemployment rate to rise slightly, but nothing (like).... what people would think of as a recession,” Daly said in an interview on LinkedIn.

Reporting by Ann Saphir

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