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Fed will ‘absolutely’ raise interest rates in September with focus to lower inflation: SF Fed president Mary Daly

Says she doesn’t see inflation as embedded in economy

US Rep. David Schweikert R-AZ) and SF Fed President Mary Daly - File/ Office of David Schweikert, US Congress, Public domain, via Wikimedia Commons

By Stephen Sorace


Federal Reserve Bank of San Francisco President Mary Daly on Sunday said the U.S. central bank will “absolutely” raise interest rates half a percent in September to try to bring down red-hot inflation.

Daly appeared on CBS’ “Face the Nation,” saying Americans are struggling as inflation hits 9.1% – the highest since 1981 – while wage growth is not rising at as fast a rate.

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