Hawkish Fed official's statements create genuine concern over larger hikes
Recent statements by the more hawkish faction of the Federal Reserve have raised genuine concerns that the current monetary policy to reduce inflation is about to undergo an unwelcome change. Multiple Federal Reserve officials have alluded to reinstating stronger rate hikes at their upcoming FOMC meetings. After seven consecutive rate hikes in 2022, the Fed raised rates by only ¼% at the first FOMC meeting of the year.
Yesterday Cleveland Federal Reserve President Loretta Mester said,"she would have liked the U.S. central bank to have been more aggressive at their last interest-rate committee meeting in January." Her message was clear saying,"We have to do more to make sure inflation is on that path back to our goal of 2%,"
Advocates of a more hawkish monetary policy in the Federal Reserve are citing recent inflation reports that indicate that inflation is much more persistent than they had believed and not declining as quickly as their projections.
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