In an appearance before the Kansas Bankers Association on Saturday, the Governor of the US Federal Reserve (Fed), Michelle Bowman said she strongly supports large-scale interest rate hikes to fight inflationaccording to the Wall Street Journal (WSJ).
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“I strongly supported the Fed’s 0.75 percentage point rate hike last month” Y “similarly sized raises should be on the table until we see inflation declining consistently, significantly and lastingly.”
“We expect the labor market to remain strong“, adding that “current perspectives see that economic growth picks up during the second half of the year“.
“Our main challenge is to control inflation.”
The recent inflation figure is “worrisomely high”.
“There are few, if any, concrete indications” to support the expectation that inflation has peaked.
“I will need to see unequivocal evidence of this decline before adding an easing of inflation pressures to my outlook.”
Source: Fx Street
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