#Federal Reserve

San Francisco Fed President Mary Daly said Friday she expects further interest-rate increases will likely be needed, citing persistent inflation; September consumer prices rose 3.7% from a year earlier, above the 3.1% annual rise in average hourly earnings in October.

Richmond Fed President Thomas Barkin said further interest rate increases are likely needed because inflation is too high and unemployment is near record lows, after the Fed left its benchmark rate in a 3.75%-4% range about a week earlier; markets price a better than 80% chance of a hike in December, according to CME Group&\x27;s FedWatch tool.