Fed officials signal further rate hikes as inflation remains elevated

Attributed summary

Federal Reserve policymakers signalled that further interest-rate increases are likely as stubborn inflation and rising business costs threaten to keep price pressures elevated, Reuters reported.San Francisco Fed President Mary Daly said her “bias” was that the central bank would need to raise its policy rate, particularly because services inflation was moving in the wrong direction and showing signs of persistence.“We’re going to need to, in all likelihood, raise rates; I…