(Reuters] – Mary Daly of the San Francisco Federal Reserve Bank called Tuesday for patience by the central bank in light of the high level inflation she predicts will fade as the pandemic ends.

“Reacting in response to things that aren’t likely to last will move us farther from — not closer to — our goals,” Daly said in remarks prepared for delivery to the Commonwealth Club of California.

Although raising interest rates right now won’t fix supply chain bottlenecks or other temporary issues which are driving up the prices, it will slow down the creation of jobs and help with the recovery.

“While it’s easy to mistake motion for competence or action for attention, running headlong into a fog can be costly,” she said. “Patience can be the bravest action we take.”

Daly’s remarks are made as her fellow colleagues, most recently James Bullard (St. Louis Fed President) earlier Tuesday, call for an immediate end to Fed asset purchases in order to position the Fed to raise rates. This month, the Fed started to phase out bond-buying and plans to stop buying altogether in mid-2022.

Daly votes on Fed policy this year. He says it is difficult to forecast how long high inflation may last or how fast workers who have been affected by COVID will be able to return to work.

As tapering takes place, we’ll be watching how the economy performs over the next quarters to see if there is an improvement in inflation and a return of workers. We will respond to a clearer message and continue to offer or withdraw support as necessary to help ensure that the economy settles in a sustainable way.