Fed's Daly links further rate hikes to future economic shocks
San Francisco Federal Reserve President Mary Daly stated that she supported September's interest-rate hike due to rising inflation risks. However, she believes the necessity of future hikes depends on whether the shocks driving inflation are likely to subside.
San Francisco Federal Reserve President Mary Daly on Tuesday said she supported September's interest-rate hike as inflation risks rose, but said whether more rate increases are needed depends largely on whether the shocks pushing up inflation appear set to fade or, conversely, persist.