Federal Reserve Bank of San Francisco President Mary Daly said on Friday that the latest Omicron wave will extend the time period that inflation will remain high.
Additional Remarks:
"Covid is the main reason for high inflation."
"We need to unwind the Covid-induced inflation boom to get supply and demand into better balance."
"We have to adjust policy to ensure we achieve price stability."
"Slowing the economy a little bit with rate hikes will help bring demand down into better line with supply."
"We want to bridle the economy a little bit."
"It is appropriate for the Fed to bring inflation down."
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