(Reuters) – Mary Daly, President of the San Francisco Federal Reserve said Thursday that she supports Jerome Powell’s plan to raise interest rates and wants to see tighter financial conditions to reduce inflation.

Daly stated that “Going up by 50 basis-point increments makes quite a lot of sense to me and there’s not any reason right now for the economy to stop doing that,” adding that financial conditions should tighten to increase supercharged demand and constrained supply.

Powell said that the Fed had raised its overnight benchmark lending rate by half a point last week and indicated that Powell expected the central bank to announce at least two rate hikes in the same amount at its two next policy meetings. Fed officials have mostly endorsed the blueprint since.