Why it matters
Higher rates can affect borrowing costs for U.S. households and businesses. The article reports Daly’s view, not a Fed decision to raise rates.
ECONOMY • UNITED STATES
Fed official says higher interest rates may be needed to fight inflation
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BLUF
San Francisco Fed President Mary Daly said higher interest rates are likely to be needed to combat inflation, according to CNBC. She also described the latest jobs report as good news for workers while noting inflation’s pressure on household finances.
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