San Francisco Fed President Mary Daly Signals Potential Further Interest Rate Hikes
San Francisco Federal Reserve President Mary Daly indicated in a CNBC interview that additional interest rate hikes may be necessary to combat persistent inflation. While she expressed support for the recent decision to hold rates steady, Daly noted that policy tightening will likely be required if economic data continues to show inflation outpacing wage growth. The remarks follow a robust jobs report from the Bureau of Labor Statistics showing 165,000 jobs added in October and an unemployment rate of 4.1%. Despite the strong labor market, Daly highlighted that real wages are falling as annual wage increases of 3.1% fail to keep pace with the 3.7% inflation rate recorded in September.
Topics: Federal Reserve Inflation Interest Rates Labor Market
Part of the story Fed Governor Signals Potential Rate Hike Amid Global Bank Earnings Reports (5 articles)