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Daly from FRS says that it is premature to rule out another 0.75% rate hike
On Monday, the head of Fed in San Francisco Fed Mary Daly declared that it is still too early to refuse a new rate hike. When asked by journalists about the next meeting, she replied that the rates still require to be discussed. They planned to increase the rate by 75 b.p. before the December meeting of the central bank related to monetary policy questions.
Daly admitted that the tipping point in inflation hasn't come yet because only one month passed. The officials will require more data to slow down inflation completely.
Also, she repeated that she still considers it necessary to increase the key interest rate to the level of 4.75% — 5.25%, although this isn’t a final decision. Currently, the rate is within the range of 3.75% — 4%.
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