San Francisco Federal Reserve president Mary Daly doesn't see the Fed easing interest rate hikes anytime soon. She predicts they'll continue into at least 2023, but says that's ultimately a good thing — even if Wall Street investors don't agree.
New York San Francisco Federal Reserve president Mary Daly said Thursday morning that raising interest rates by either half or three quarters of a percentage point in September would be a"reasonable" way to bring inflation down.
The hikes would follow back-to-back 75-basis point increases by the Federal Reserve, intended to tackle white hot inflation, which remains near a 40-year high. Last month's Consumer Price Index, a key inflation measure, showed that rising prices took a bit of a breather with consumer prices increasing by 8.5% year over year, a slower pace than the 9.1% increase in June.
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