The Fed: Fed’s Daly says more rate hikes needed, dismisses ‘pivot’ talk

The Federal Reserve needs to keep raising its benchmark interest rate in order to cool inflation that hit a 40-year high earlier this year and has shown little signs of cooling, Mary Daly, president of the Federal Reserve Bank of San Francisco said Wednesday. “I do see more rate increases as necessary,” Daly said, in an interview on Bloomberg Television. “Remember, this is…