By Ann Saphir (Reuters) – The U.S. central bank should avoid putting the economy into an “unforced downturn” by raising interest rates too sharply, and it’s time to start talking about slowing the pace of the hikes in borrowing costs, San Francisco Federal Reserve President Mary Daly said on Friday. The Fed is widely expected to raise its benchmark overnight interest rate by three-quarters of a percentage point for a fourth consecutive time at a Nov. 1-2 policy meeting, as the central bank battles the highest inflation in 40 years. The aggressive policy tightening has lifted that rate from the…