TLT•San Francisco Fed President Mary Daly said the central bank will likely need to raise its policy rate, citing persistent inflation and services inflation moving in the wrong direction.
Daly said her bias is that the Federal Reserve will likely need to raise its policy rate, particularly because services inflation is not moving in the correct direction and there are signs of persistence. She said producers are running out of room to absorb costs in their margins and want to consider passing them on to consumers.
