San Francisco Fed President Mary Daly said Fed needs to raise interest further and hold restrictive policies in place until it’s “truly done” on bring back inflation to 2% target.
“Those interest rate increases slow the economy and they do have spillover effects on currencies in other countries,” Daly said, of the Fed’s interest-rate rises. “But central banks, no matter where you are, are meant to create policy for the nation that they serve, and then we have to be aware of how this affects the global economy because that’s part of the puzzle.”
