Fed's Daly Says More Rate Hikes Likely Needed to Cool Inflation

The transcript discusses expectations from Fed Chair Jay Powell's upcoming testimony, highlighting Mary Daley's centrist views and the need for continued rate hikes to combat inflation. It covers economic uncertainty, Larry Summers' suggestion for a 50 basis point hike, and the political dynamics Powell will face during his Senate testimony.

What does Larry Summers suggest about the Federal Reserve's rate hike strategy?

What challenges does Jay Powell face during his testimony before Congress?