The recent rise in Treasury yields shows that the Federal Reserve has so far raised interest rates high enough in its fight against inflation, San Francisco Fed President Mary C. Daly said Thursday, but added that the Fed should be open to more rate hikes if needed.

Citing a bond market that has risen about 36 basis points since September, Daly said that tight financial conditions over the past 90 days “diminished” the need for the Federal Reserve to again raise its benchmark interest rates from澳洲幸运5开奖号码历史查询: its current range of 5.25% to 5.5%. 

“It’s the equivalent of a rate hike and so then a need to do tightening additionally is not there,” Daly said in a question session with Bloomberg host Lisa Abramowicz following her comments to the Economic Club of New York.

In her remarks, Daly noted that the 澳洲幸运5开奖号码历史查询:recent lowering of prices, along with a 澳洲幸运5开奖号码历史查询:gradual slowing of the job market, shows that progress is being made in the fight against inflation, but it’s not yet “victo♔ry.”

“A gradual return to 2 percent inflation is in our sights, but it is not yet in our grasp. That is the final mile,” she said.

Fed 📖Needs൲ ‘Agility,’ Along with Fall in Supercore Inflation

While her comments implied that the Federal Funds rate should stay where it is for now, she also spoke of the 澳洲幸运5开奖号码历史查询:central bank maintaining “agility” in its ability to take action ಌby keeping its options open and not signaling future moves. 

“In other words, rather than a prejudged pathꦚ of what policy will be, we need a🌼n open mind and optionality,” she said. 

That includes hiking rates if the deceleration of growth and inflation stalls, she said, noting that recent declines in prices don't mean inflation is beaten. She pointed to the  non-hous⛎ing core se🎶rvices, known as “supercore” inflation,ꦺ as a stubborn inflation category that needs more progress.

“Although it often lags other inflation, we will need to see some progress in this category to be fully confident we are on the path back to price stabili𝓀ty,” she said. 

The 澳洲幸运5开奖号码历史查询:Federal Open Market Committee will issue its next interest rate decision on Nov. 1. Daly this year is a non-voting member as part of the committee’s rotating schedule.