Daly says Fed rate hike likely, despite ’painful’ tech-stock dive

Nov 6 (Reuters) - Federal Reserve Bank of San Francisco President Mary Daly said on Friday she feels the US central bank will likely need to raise rates further to bring too-high inflation down, even as she acknowledged what she called the "painful" but orderly repricing of technology stocks as investors reassess the risks to AI-driven demand growth.

"My expectation is, we’re going to have to tighten policy further," Daly said on CNBC, though exactly when and how much is not yet clear. Noting "how volatile the world seems to be in many ways," she added, "those volatilities are something that you have to take into account, collect more information, and be deliberate but more gradual in how you get there when you don’t know exactly where you’re going to need to head. But more is likely to be needed and certainly we’re prepared --  I’m prepared -- to do that, if that’s what the economy calls for."