(Reuters). SAN FRANCISCO Federal Reserve Bank President Mary Daly said on Thursday she is in favor of raising overnight borrowing costs by 2.5% to the Fed. But, it will all depend on how inflation and the labor market.

Yahoo Finance’s Daly stated that while the Fed “likely,” will need to raise interest rates by one-half of a percentage, she said Yahoo Finance. She added, however, that the speed of the increase and the possibility of an additional 75 basis points will depend on the decisions of other policymakers. She said that it was an open question, and she didn’t want to make any decisions before seeing the data.