Mary Daly Backs Further Federal Reserve Interest Rate Hikes

San Francisco Federal Reserve President Mary Daly stated that the US central bank must raise interest rates to combat inflation. She emphasized that monetary policy requires further tightening to balance the economy.

The pace and magnitude of future decisions have not yet been determined. Daly affirmed that the institution is prepared to take additional measures as economic needs dictate. The focus remains on controlling the rising prices that impact household budgets.

The US labor market shows stability and strength. Daly noted that while the scenario is positive for workers, high inflation creates constant pressure on overall finances.

The official reinforced that inflation has remained at high levels for a prolonged period. The Federal Reserve's commitment is to bring price stability back to the level desired by the monetary authority.

The prospect of higher interest rates in the United States tends to increase global risk aversion and strengthen the dollar against emerging currencies, which puts pressure on Bitcoin and more volatile assets.