Daily Financial Breakfast 14 November 2026: Fed Officials Back More Rate Hikes While Nagel Signals Another ECB Increase

Market News Today: Key Takeaways

• Federal Reserve officials backed further rate increases as Mary Daly identified inflation as the economy’s key problem and Susan Collins and Austan Goolsbee warned of broadening price pressures.
• Bundesbank President Joachim Nagel indicated that the European Central Bank would need to raise interest rates again amid mounting second-round inflation risks.
• An unofficial progressive-group blueprint identifies Coinbase CEO Brian Armstrong and World Liberty Financial as potential targets of Democratic congressional scrutiny, crypto reporter Eleanor Terrett reported.

Central Banks

Fed Officials Back Further Rate Hikes as Inflation Broadens

San Francisco Federal Reserve President Mary C. Daly said on Friday that the U.S. economy was in good shape but described inflation as the “key problem.” She said the “bias is that rates need to go up,” as firms seek to pass on costs.

Boston Fed President Susan Collins said “inflation is too high and appears to be broadening,” while backing a careful approach to further rate increases. Chicago Fed President Austan Goolsbee said inflation had spread into categories “where prices are not being driven by energy” and that the Fed “definitely has work to do” to retain its credibility.

Nagel Signals Need for Another ECB Rate Increase

Bundesbank President Joachim Nagel, who also sits on the European Central Bank’s Governing Council, indicated that the ECB would need to raise interest rates again amid mounting risks of second-round inflation effects.

U.S. Regulation

Terrett Reports Blueprint for Congressional Scrutiny of Trump-Linked Crypto Firms

Coinbase CEO Brian Armstrong and World Liberty Financial are among the potential targets of congressional scrutiny identified in an oversight blueprint circulated by an outside progressive group, crypto reporter Eleanor Terrett reported on Friday. The proposed scrutiny concerns crypto executives’ relationships with President Donald Trump as Democrats prepare to take control of Congress in January 2027.

The group is led by former aides to Senator Elizabeth Warren. Democratic staff have reportedly reviewed the document, which proposes Armstrong as a hearing witness but is not an official congressional plan.

Former House Financial Services Committee Chairman Patrick McHenry warned that Democratic investigations could extend beyond cryptocurrency to corporate America more broadly. Republicans are also accelerating the SEC nominations of Steven Levine and Kristin Johnson ahead of the congressional transition.