Exclusive report - Federal Reserve's Daly says a rate hike may be necessary, but it's not urgent

Reuters San Francisco, October 14 - Mary Daly, president of the Federal Reserve Bank of San Francisco, said on Wednesday that the Federal Reserve may need to further raise short-term interest rates to rein in excessive inflation, but she also indicated that there is no need to take such action at the Fed meeting on October 27-28.

"It's very likely that we'll need to make further adjustments, but for me, the specific timing of these adjustments is still under discussion," Daly said in an interview with Reuters. "I don't think we have to rush to make decisions when information is limited. I believe we have enough time."

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