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Daly Urges Another Hike
San Francisco Federal Reserve President Mary Daly said the U.S. central bank may need to raise interest rates further to curb inflation, though the timing and scale of any increases remain uncertain and a gradual approach is warranted. She emphasized that bringing inflation down is a priority and that the Fed needs more data to gain confidence in its policy path. She said she had supported a rate hike in September and holding rates steady at the latest meeting, and remains open to further tightening if circumstances call for it. Daly described the repricing of AI investments as painful but orderly, and said it would likely slow growth somewhat without causing a sharp downturn.
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