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Fed's Daly Advocates for Rate Hikes to Curb Inflation, Says Victory Unconfirmed

San Francisco Federal Reserve Bank President Mary Daly asserts that interest rate increases are pivotal for moderating US inflation.

Mary Daly
Mary Daly

Daly Reinforces Need for Rate Hikes Amid Inflation Concerns

San Francisco Federal Reserve Bank President Mary Daly affirmed on Thursday the critical role that rate hikes will play in alleviating high inflation in the United States. This underlines her consistent stance on the necessary interventions to regulate the ongoing inflationary trends.

Daly Foresees Two More Rate Hikes This Year

Daly, in her previous statements, conveyed the likelihood of two more rate hikes within the current year. She believes these adjustments to be crucial in addressing the pressing economic situation.

Aspiring for Neutral Rate with Fed's 2% Inflation Goal in Sight

During an interview on CNBC, Daly expressed her intent to navigate towards a neutral rate as the US inches closer to the Fed's 2% inflation target. This strategic move forms part of the broader plan to stabilize the economy.

Modest Rise in June's Consumer Prices as Inflation Eases

Data shows that US consumer prices experienced a moderate increase in June, recording the smallest annual rise in over two years as inflation further eased. The consumer price index reflected a growth of 0.2% last month, suggesting signs of a potential turnaround.

No Claim to Victory on Inflation Battle Yet, Says Daly

Despite these positive signs, Daly cautioned that it's too early to claim triumph over inflation. She emphasized the importance of continued vigilance and strategic policy decisions to ensure long-term economic stability.