San Francisco Federal Reserve Bank President Mary Daly on Wednesday that her most likely posture is a 75bp hike in July but a 100bp is possible she said as reported by the New York Times.

On Tuesday Daly said she believes the US 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.