The Fed’s Mary Daly says rate hikes should continue until inflation is tamed

San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level.

Those moves likely would entail multiple 50 basis point hikes at coming meetings, then a possible rest to see how the central bank policy tightening is combining with other factors in addressing the massive surge in consumer prices.

“We need to do that expeditiously, and I see a couple…