The Federal Reserve Bank of Philadelphia has chosen Anna Paulson, a top official at the Chicago Fed, to serve as its next president.

Federal Reserve Governor Christopher Waller says he is willing to support a half-point interest rate hike at the central bank’s next meeting in March.

The spread of the COVID-19 delta variant is raising infection rates, leading some businesses and governments to require vaccinations and raising concerns about the U.S. economic recovery.

With inflation uncomfortably high and the COVID-19 Delta variant raising economic concerns, a divided Federal Reserve will meet this week to discuss when and how it should dial back its ultra-low-interest rate policies.