1424 ET - San Francisco Fed President Mary Daly says that her bias is the Fed will have to tighten more. "My bias is that further tightening will be needed because you just see this consistent pressure on inflation that isn't simply in the sectors that are most directly affected by tariffs or oil," Daly said at an event in Palo Alto, California. Daly said those pressures are starting to bleed into services, and once services inflation rises, it becomes extremely sticky. However, Daly said that exactly how much tightening and exactly when are decisions "we don't need to make today."
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