Fed's Daly: More Likely Than Not To Need More Rate Hikes; Still Deliberating On Timing

Not In A Posture Of Urgency; Better To Take Time To Be Thoughtful And Deliberate - Risks To Above-Target Inflation Remain Elevated; Stable Labour Market Allows Focus On Price Stability - Feels Imprudent To React When There Is Time To Make A Good Decision - Markets Calmer After Initial Robust Reaction To CPI Data; Markets Understand Fed's Reaction - CPI Showed Gas Prices Driving Headline Inflation; Core Inflation Remains Sticky, As Expected - Does Not Yet Know If Inflation Will Come Down As Shocks Abate Or Worsen If Shocks Persist - Fed Has Responsibility To Communicate Effectively, Be Accountable, Transparent And Clear