Federal Reserve Bank of San Francisco President Mary Daly is worried about the fact that unresolved financial system weaknesses are drawing the US central bank in with emergency support offerings too often.“The frequency and scale of our interventions is concerning, “ Ms. Daly stated that during a virtual appearance on Thursday. “Without changes to our financial infrastructure, the Federal Reserve may regularly be called to step in to stabilize markets during periods of turbulence, “she stated, adding that “and not just for 100-year floods such as Covid-19, but for more typical disruptions associated with average shocks to the global and domestic economy.”Ms. Daly, a voting member of the rate-setting Federal Open Market Committee, also stated that the Fed remains some distance from achieving its employment and inflation goals, so it isn’t time for it to draw back on its close to zero interest rate policy and its $120 billion a month in bond acquisitions.Speaking with reporters, Ms. Daly flagged what she saw as ongoing issues in the financial sector, most notably in the Treasury market, a key determinant of borrowing costs in the US and around the globe.