San Francisco Fed President: Tight monetary policy needed until progress on inflation

San Francisco Federal Reserve President Mary Daly has said that the Fed wants to act cautiously until it decides on the next adjustment. Inflation is declining, but the process is unstable. On that basis, Daly believes that tight monetary policy is needed until further progress is made on inflation. Daly made the remarks at the 2025 Conference for Community Bankers in Phoenix, Arizona.