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COVID-19 caused inflation, but Fed has to fix it -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Mary Daly, President of the San Francisco Federal Reserve, reacts to the Los Angeles World Affairs Council Town Hall. Los Angeles, California. U.S.A. October 15, 2019. REUTERS/Ann Saphir

(Reuters) – Friday’s San Francisco Federal Reserve Bank President Mary Daly stated that COVID-19 was the primary reason for high inflation and that the U.S. central banks must raise interest rates in order to lower demand so it can be more consistent with crimped supplies.

Inflation will continue for a longer time if the Omicron version of COVID-19 is used, Daly stated in an interview with the New York Times on Twitter (NYSE : Spaces). She stated, “We will have to adjust our policy to achieve price stability.”

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