Central Banks
Fed’s Daly Says More Rate Hikes Likely Needed to Cool Inflation
- San Francisco Fed chief backs keeping policy tight for longer
- Discusses factors that could re-shape inflationary forces
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Federal Reserve Bank of San Francisco President Mary Daly said policymakers will likely need to raise interest rates higher and maintain them at elevated levels for a longer period of time.
“It’s clear there is more work to do,” Daly said in a speech Saturday at Princeton University in New Jersey. “In order to put this episode of high inflation behind us, further policy tightening, maintained for a longer time, will likely be necessary.”