Fed's Daly weighs options for monetary policy tightening.

San Francisco Fed President Mary Daly believes that the strength of the economy and high inflation readings suggest that the Federal Reserve needs to raise interest rates further, but how much more will depend on how much credit tightens as a result of recent bank failures. Daly is also watching the global economy and how it could impact U.S. growth, noting that central banks around the world that are raising interest rates to bring down inflation as well as tighter international bank conditions could cause the global economy to slow and serve as a headwind for U.S. growth.