Inflation in the United States could rise further before weakening in the face of Federal Reserve action and as pressure from supply chains eases, San Francisco Federal Reserve Chair Mary Daly said Tuesday.
“It may get worse before it gets better, but it will definitely get better,” Daly told CNN, adding that she still doesn’t expect inflation to decline to 2% by the end of the year. Consumer prices rose 7% last year.
The Fed is expected to start raising rates from near-zero levels next month, a move Daly says he defends.
When that happens, Daly said, the Fed should not do little or be “overly aggressive,” aware that the central bank alone cannot cure inflation caused largely by the effects of the pandemic.
your subscription can be worth even more
Do you already know the advantages of being a Folha subscriber? In addition to having access to reports and columns, you have exclusive newsletters (find out here). You can also download our free app from the Apple Store or Google Play to receive alerts on the top news of the day. Your subscription helps us to make independent and quality journalism. Thanks!
your subscription is worth a lot
More than 180 reports and analyzes published each day. A team with more than 120 columnists. A professional journalism that supervises the public power, conveys useful and inspiring news, counterpoints the intolerance of social networks and draws a clear line between truth and lie. How much does it cost to help produce this content?
sign the sheet
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
