![Federal Reserve Officials Say More Interest Rate Hikes Are Needed to Curb Inflation](https://static.news.bitcoin.com/wp-content/uploads/2023/02/fed-rate-hikes.jpg)
Several Federal Reserve governors and presidents say that more interest rate hikes are needed to curb inflation. “We are not done yet with raising interest rates,” Fed Governor Lisa Cook said. “We need to raise rates aggressively to put a ceiling on inflation,” Minneapolis Federal Reserve President Neel Kashkari stressed.
Fed Officials on Raising Interest Rates Further
Several Federal Reserve governors and presidents said this week that more interest rate hikes are needed to curb inflation. Their comments followed a similar statement by Federal Reserve Chairman Jerome Powell who said on Tuesday that additional interest-rate increases will be needed to cool inflation.
At an event hosted by the Joint Center for Policy and Economic Studies on Wednesday, Fed Governor Lisa Cook stated:
We are determined to bring inflation down to our target … So I think we are not done yet with raising interest rates, and we will need to keep interest rates sufficiently restrictive.
“We are now moving in smaller steps,” Cook added. “This will give us time to evaluate the effects of our fast actions on the economy.”
After a series of 75-basis-point rate hikes last year, the Federal Reserve raised its benchmark interest rate by 25 basis points last week to 4.5%-4.75%.
Citing the January jobs report showing nonfarm payroll growth of 517,000, Fed Governor Christopher Waller said Wednesday at the Arkansas State University Agribusiness Conference, “We are seeing that effort begin to pay off, but we have farther to go.” He emphasized:
It might be a long fight, with interest rates higher for longer than some are currently expecting. But I will not hesitate to do what is needed to get my job done.
New York Fed President John Williams said at a Wall Street Journal event Wednesday that moving to a federal funds rate of between 5.00% and 5.25% “seems a very reasonable view of what we’ll need to do this year in order to get the supply and demand imbalances down.”
In addition, Minneapolis Federal Reserve President Neel Kashkari said on CNBC Tuesday: “We have a job to do. We know that raising rates can put a lid on inflation.” He added:
We need to raise rates aggressively to put a ceiling on inflation, then let monetary policy work its way through the economy … I’m not seeing that we’ve made enough progress yet to declare victory.
How long do you think the Fed will continue to raise interest rates? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
https://indianpharmacy.shop/# online shopping pharmacy india
п»їlegitimate online pharmacies india
medication from mexico pharmacy: pharmacies in mexico that ship to usa – п»їbest mexican online pharmacies
canadapharmacyonline canadian drug pharmacy canadian pharmacy 365 canadianpharmacy.pro
https://canadianpharmacy.pro/# 77 canadian pharmacy canadianpharmacy.pro
http://mexicanpharmacy.win/# reputable mexican pharmacies online mexicanpharmacy.win
buy medicines online in india
canada rx pharmacy world legit canadian online pharmacy canadian pharmacy meds canadianpharmacy.pro
http://canadianpharmacy.pro/# canadian pharmacy ltd canadianpharmacy.pro
https://indianpharmacy.shop/# Online medicine order indianpharmacy.shop
mail order pharmacy india
http://indianpharmacy.shop/# reputable indian online pharmacy indianpharmacy.shop
india pharmacy international medicine delivery from india online shopping pharmacy india indianpharmacy.shop
https://mexicanpharmacy.win/# mexican pharmaceuticals online mexicanpharmacy.win
top 10 pharmacies in india
https://canadianpharm.store/# canada drugs reviews canadianpharm.store
best online pharmacy india: Indian pharmacy to USA – indian pharmacy paypal indianpharm.store
canadian pharmacy world reviews canadian pharmacy world or pharmacy canadian superstore
http://www.boosterblog.net/vote-146-144.html?adresse=canadianpharm.store&popup=1 pharmacy in canada
legitimate canadian pharmacy reputable canadian online pharmacies and safe online pharmacies in canada canadianpharmacymeds
world pharmacy india Online medicine order indian pharmacies safe indianpharm.store
https://indianpharm.store/# top 10 online pharmacy in india indianpharm.store