Federal Reserve Bank of San Francisco President Mary Daly said she still believes the inflation surge in the U.S. won’t last, in a television interview where she also expressed her hope that the Fed can soon cut back on its bond-buying stimulus efforts.
Ms. Daly spoke Tuesday on CNBC after the release of the June consumer-price index, which showed a gain of 5.4% from a year ago and fueled concern that inflation pressures tied to the economic reopening process may prove longer lasting than many had hoped.
“This…
