Federal Reserve Bank of San Francisco President Mary Daly said the central bank should raise interest rates “a little” above 3% by the end of the year to cool inflation, pushing back against investor bets that officials would then reverse course. “We need to get the rate up, up to neutral at least, which is around 3%, but likely to restrictive territory — a little bit above 3% this year and a little bit more above 3% next year,” she told CNN International in an interview on Thursday. “I really think of the raise-and-hold strategy as one that has historically paid off for us.”
Source: The Bond Buyer
