Fed’s Daly: Further Rate Hikes May Be Needed to Curb Inflation

Cointime reports: San Francisco Fed President Mary Daly said Thursday that further monetary tightening may be necessary to bring inflation down, as price pressures persist beyond sectors directly affected by tariffs or oil. She said more firms are telling her they plan to pass higher input costs to consumers, and that she supported the Fed’s September rate hike and October decision to hold rates steady. Daly, a non-voter on the FOMC this year, said AI infrastructure spending is lifting some prices but has had only a mild effect on overall inflation.