Daly: High inflation has persisted for too long; the Fed may need to raise rates further.

Zhito Finance APP has learned that Mary Daly, President of the Federal Reserve Bank of San Francisco and a 2027 FOMC voting member, said on Friday that she expects the Fed will need to raise interest rates further, but like other policymakers, she believes the pace and timing of rate hikes remain uncertain. Daly said: "My expectation is that we will have to tighten policy further. Exactly when to raise rates and by how much is still to be decided, because we must consider all relevant factors." She said: "More tightening may be necessary, and of course... if economic conditions require it, I am prepared to do so."