The US central bank might not need to raise interest rates on a monthly basis anymore as inflation in the United States appears to be cooling, Federal Reserve Bank of San Francisco President Mary Daly said on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 12th April, 2023) The US central bank might not need to raise interest rates on a monthly basis anymore as inflation in the United States appears to be cooling, Federal Reserve Bank of San Francisco President Mary Daly said on Wednesday.
"We don't keep raising interest rates until we get to 2%," Daly said, referring to the Fed's long-term inflation target. "We don't keep raising interest rates with blinders on. Policy tightening has reached a point where we do not expect rates to be raised at every meeting."
Daly's remarks came after latest data showed US headline inflation cooled for the year to March, growing about 1% below February levels, even as core prices minus food and energy remained higher and indicated mixed results for the central bank's fight against inflation.
