Fed's Daly says further policy tightening likely to be needed
TLT•San Francisco Fed President Mary Daly said further interest-rate increases will likely be needed to address elevated inflation, but did not suggest the central bank should act quickly.
1. Daly on rate policy
Daly said her bias is that further tightening will be needed, as price pressures are spreading beyond energy and goods into services, where inflation can be sticky. She welcomed higher bond yields, saying tighter financial conditions give the Fed more time to make calibrated decisions.
