San Francisco Fed President Mary Daly says the Federal Reserve is likely to need additional interest-rate increases, citing the current inflation environment. In comments tied to recent employment data, Daly links the outlook to both labor-market strength and the continued financial pressure high prices place on households.
Daly describes the jobs report as positive for workers, while arguing that the central bank still has to focus on inflation. Across outlets, the emphasis is on the idea of an ongoing “treadmill” of high inflation: CNBC highlights the household-cost angle alongside the jobs gains, while Quartz focuses more on the rate-hike implication drawn from labor-market conditions and the central bank’s likely path forward.
