San Francisco Federal Reserve President Mary Daly said Wednesday that the central bank’s benchmark interest rate may have to rise above 5% to start to put downward pressure on inflation.
Getting the Fed’s benchmark rate somewhere between 4.75% and 5.25% is “a reasonable place to think about,” Daly said, in an interview on CNBC. Asked to comment on the sharp gain in retail sales in October, Daly said that it showed “the consumer is hanging in there.”
Pretty sure you will need it higher in the end
Pump it Daly!!!
Isn't it high time we were mentioning this
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