Federal Reserve Bank of San Francisco President Mary Daly is the latest official to join central bankers ready to support a 50-basis-point interest-rate increase if necessary to cool inflation. “We’re prepared to do whatever it takes to ensure that we get price stability,” Daly says. Cleveland Fed President Loretta Mester, who supports raising the benchmark rate to 2.5% by year-end, says, “I don’t want to presuppose every meeting from here to July, but I do think we need to be more aggressive earlier rather than later.” St. Louis Fed President James Bullard predicts a benchmark rate of more than 3% by year-end and says, “We have to think bigger maybe than we have in the past.”
Source: Bloomberg
