San Francisco Fed President Daly says higher rates 'are likely to be needed' in inflation fight

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San Francisco Federal Reserve President Mary Daly said Friday she expects the central bank will need to raise interest rates further, but joined her fellow policymakers in saying the pace and timing remain uncertain. "My expectation is we're going to have to tighten policy further. Exactly when and how much is still to be decided because we just have to take all the variables that are coming in," Daly told CNBC's Steve Liesman during a live interview. "More is likely to be needed, and certainly ... I'm prepared to do that if that's what the economy calls for." The remarks came the same day the Bureau of Labor Statistics reported that the U.S.