Americans Are on a 'Treadmill of High Inflation' and More Rate Hikes Are Likely, Fed's Daly Says
Daly said policymakers will likely need to tighten policy further as inflation stays too high, while investors continue repricing technology stocks.
- San Francisco Federal Reserve President Mary Daly said on Friday that the Fed will likely need to raise rates further to curb inflation, even as she acknowledged risks to AI-driven growth.
- The Federal Open Market Committee raised rates to a 3.75%-4% range in September but declined to hike rates last week, preferring to wait for "the accumulation of more information" before deciding its next move.
- Recent data from the Bureau of Labor Statistics showed 165,000 jobs added in October, driving unemployment to 4.1%, though Daly noted real wages are failing to keep up with the 3.7% inflation rate.
- Richmond Fed President Thomas Barkin said Thursday he expects higher rates ahead but is unsure of the timeline, while Daly called the jobs report "good news for American workers."
- Daly, who will vote on the committee next year, favors a gradual approach but emphasized that "more is likely to be needed" to address persistent inflation pressures.
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The president of the Federal Reserve (Fed) district of San Francisco, Mary Daly, said on Friday (6) that the American central bank will probably need to raise interest rates even further to reduce inflation, and stressed that the pace and timing of this action remain uncertain. Daly will be entitled to vote on the monetary policy committee next year. My expectation is that we will have to tighten monetary policy even more, said Daly to CNBC. The…
Daly says Fed rate hike likely, despite 'painful' tech-stock dive
Fed’s Daly Says More Rate Increases Likely Needed to Tame Prices
Federal Reserve Bank of San Francisco President Mary Daly said more interest rate increases are likely to be needed to tame inflation, but she said it was too soon to know how much higher rates will need to go.
Americans are on a 'treadmill of high inflation' and more rate hikes are likely, Fed's Daly says
San Francisco Fed President Mary Daly called Friday's jobs report "good news for American workers," but noted the pressure inflation is exerting on household finances
Americans are on a ‘treadmill of high inflation’ and more rate hikes are likely, Fed’s Daly says
San Francisco Federal Reserve President Mary Daly said Friday she expects the central bank will need to raise interest rates further, but joined her fellow policymakers in saying the pace and timing remain uncertain."My expectation is we're going to have to tighten policy further. Exactly when and how much is still to be decided because…
San Francisco Fed President Mary Daly stated that further tightening of monetary policy may be needed to reduce high inflation in the United States.
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