MNI BRIEF: Daly Sees At Least Four Fed Rate Increases

San Francisco Fed President Mary Daly said Wednesday she expects at least four rate increases in this tightening cycle to bring inflation under control, adding to comments from a recent MNI interview.

“Raising rates at least four times, at least, would be my preference,” she said, answering questions after a speech. “But it most likely will be more than that unless of course we get the Ukraine and Russia situation pulling back demand,” or there is another drag around fiscal policy, consumption or a fast improvement in supply chains, she said.

“I’m committed to getting inflation to keep coming down,” she said. “We would start a process of subsequent increases that would get us closer to neutral, but exactly how close to neutral we’ll get depends on all of these uncertainties.”