Daly Says More Fed Rates Hikes Likely Needed
Federal Reserve Bank of San Francisco President Mary Daly indicated further interest-rate increases will likely be needed to combat inflation, with businesses increasingly considering price hikes.
Speaking at the Stanford Institute for Economic Policy Research, Daly emphasized that additional rate hikes appear necessary to bring down inflation levels. Her comments come as businesses show growing inclination to increase prices, potentially fueling further inflationary pressures.
The Federal Reserve has been grappling with elevated inflation, and Daly's remarks signal that policymakers remain committed to using monetary policy tools to achieve their price stability mandate. Her position as a regional Fed president gives her voice significant weight in the central bank's decision-making process.
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