{"id":1671884,"date":"2022-10-04T10:53:36","date_gmt":"2022-10-04T14:53:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671884"},"modified":"2022-10-04T10:54:18","modified_gmt":"2022-10-04T14:54:18","slug":"feds-daly-need-further-rate-hikes-to-beat-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-daly-need-further-rate-hikes-to-beat-inflation\/","title":{"rendered":"Fed\u2019s Daly: need further rate hikes to beat inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffeds-daly-need-further-rate-hikes-to-beat-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1671884&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Ann Saphir<\/p>\n<p>(Reuters) \u2013     San Francisco Federal Reserve Bank President Mary Daly on Tuesday said the U.S. central bank needs to push borrowing costs higher and then hold those restrictive policies in place until \u201cwe are truly done\u201d on getting inflation back down to the Fed\u2019s 2% target.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>\u201cThere\u2019s a lot of room to slow the labor market before we get into severe recessionary conditions that people are predicting,\u201d Daly told CNN, adding that she projects unemployment to rise to the \u201c4.5% range\u201d rather than the higher levels some have forecast. Inflation, running at more than 6%, is eroding the value of American wages, she said, and the Fed needs to deliver \u201cfurther rate hikes\u201d to bring it down.<\/p>\n<p>The Fed raised its policy rate to a 3%-3.25% range last month and signaled it would likely lift it to 4.6% next year, a more aggressive policy stance than most analysts had expected. The moves added to uncertainties and strains like the Ukraine war and energy price pressures that were already unsettling the world economic outlook, and turmoil in global financial markets ensued.<\/p>\n<p>\u201cThose interest rate increases slow the economy and they do have spillover effects on currencies in other countries,\u201d Daly said, of the Fed\u2019s interest-rate rises. \u201cBut central banks, no matter where you are, are meant to create policy for the nation that they serve, and then we have to be aware of how this affects the global economy because that\u2019s part of the puzzle.\u201d<\/p>\n<p> (Reporting by Ann Saphir; Editing by Chizu Nomiyama)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/feds-daly-need-further\/attachment\/file-photo-san-francisco-federal-reserve-bank-president-mary-daly-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI930T0-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI930T0-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ann Saphir (Reuters) \u2013 San Francisco Federal Reserve Bank President Mary Daly on Tuesday said the U.S. central bank needs to push borrowing costs higher and then hold those<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1671884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1671884"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1671884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1671884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1671884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1671884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}