Credit: REUTERS/ANN SAPHIR
Feb 17 (Reuters) – Two Federal Reserve officials on Friday added to a chorus of U.S. central bankers this week in signaling that interest rates will need to go higher in order to successfully quash inflation, although one guarded against inferring too much from recent unexpectedly-strong economic data.
“I think there’s a long way to go before we reach our 2% inflation objective and I think we’ll have to continue to raise the federal funds rate until we see a lot more progress on that,” Fed Governor Michelle Bowman said during an appearance before a bankers association in Nashville, Tennessee, referring to an inflation rate that is still more than double the Fed’s goal by its own preferred measure.
Read more here: https://www.nasdaq.com/articles/more-fed-policymakers-point-to-higher-rates-in-inflation-fight
