On October 15, Mary Daly, President of the San Francisco Federal Reserve, stated on Wednesday that the Fed may need to further raise short-term interest rates to curb excessive inflation. However, she also pointed out that there is no need to take such action at the Fed's meeting on October 27-28. "It is very likely that we will need to make further adjustments, but regarding the timing of those adjustments, I think we are still deliberating," Daly said. "I don’t feel there is a need to rush into a decision with limited information. I believe we have enough time."