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9/28, 6:19 AM (Source: TeleTrader)
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Fed to 'carefully' navigate high inflation - Daly

San Francisco Federal Reserve Bank President Mary Daly said the Fed is determined to hiking rates at the right pace in order to tame inflation but not risk triggering a recession.

Speaking in Singapore, Daly said the Fed will continue to alter its monetary policy setting while "carefully" navigating the "high inflation environment."

"We are resolute and committed to doing that," she concluded, adding that the central bank is convinced the inflation is largely driven by excess demand, which is putting upward pressure on prices.

Baha Breaking News (BBN) / NL