Fed’s Mary Daly says rate hikes should continue until inflation tamed

San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level.

Those moves likely would entail multiple 50 basis point hikes at coming meetings, then a possible rest to see how the central bank policy tightening is combining with other factors in addressing the massive surge in consumer prices.

“We need to do that expeditiously, and I see a couple of 50 basis point hikes immediately in the next couple of meetings to get there,” she told CNBC’s Steve Liesman during an interview on “TechCheck.” “Then we need to look around and see what else is going on.”

Daly said she sees some initial signs of a…