Key takeaways
- San Francisco Fed President Mary Daly called Friday's jobs report "good news for American workers," but noted the pressure inflation is exerting on household finances.
- San Francisco Federal Reserve President Mary Daly said Friday she expects the central bank will need to raise interest rates further.
- Average hourly earnings rose 3.1% annually in October, but the September inflation rate as measured by the consumer price index was 3.7%.
San Francisco Fed President Mary Daly said in a CNBC interview Friday that she expects the central bank will have to raise benchmark interest rates further as it battles inflation. On the labor market, she said Friday's jobs report was "good news for American workers" who nevertheless are seeing wages that are not keeping up with inflation.
