San Francisco Fed President Mary Daly said the central bank will raise interest rates in September and promised it was 'far from done' in helping to bring down inflation.
Federal Reserve Bank of San Francisco President Mary Daly on Sunday said the
will "absolutely" raise interest rates half a percent in September to try to bring down red-hot inflation.– the highest since 1981 – while wage growth is not rising at as fast a rate. "Americans are losing ground every day, so the focus has to be on bringing inflation down," Daly said.Mary Daly, president of the Federal Reserve Bank of San Francisco, promised struggling Americans that the Fed was"far from done" in working to lower inflation.in the second quarter after tumbling 1.9% over the year’s first three months.
However, Daly said that she doesn’t see that inflation is embedded in the economy, which she says has shown signs of cooling.
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