The president of the San Francisco Federal Reserve on Wednesday said the central bank is likely to raise a key interest rate to as high as 2.5% by year end...
The president of the San Francisco Federal Reserve on Wednesday said the central bank is likely to raise a key interest rate to as high as 2.5% by year end in a bid to help douse raging U.S. inflation.
“I see an expeditious march to neutral by the end of the year as a prudent path,” Mary Daly said in a speech at the University of Las Vegas. The Fed last month lifted its short-term rate for the first time since the pandemic after keeping it near zero during the crisis in an effort to stimulate the economy.
Daly and other senior Fed officials have signaled they plan to raise rates quickly to try to ease upward price pressures and assure Wall Street DJIA investors and the public that the central bank won’t let inflation continue to run rampant.
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