Interest Rates Likely to be Raised ‘Couple’ More Times This Year: Fed Official
Interest rates are likely to be raised a “couple” of more times this year as inflation is still far too high, says the head of the Federal Reserve Bank of San Francisco.
Despite price pressures slowing, San Francisco Fed Bank President Mary Daly believes the institution needs to continue raising interest rates, a policy decision that requires a balancing act amid a plethora of challenges, be it the national economy or the banking stresses.
But for inflation to return to the U.S. central bank’s 2 percent target rate and remain there for a sustainable, long-term period, “a couple more rate hikes will be necessary.”…