Economics
Top Fed Officials Back March Liftoff as Consensus Takes Shape
- Asset shrinking to start in next few meetings, Brainard says
- Williams doesn’t see need for ‘big step’ in March rate hike
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Two top Federal Reserve officials backed raising interest rates in March to curb the hottest inflation in 40 years and starting to shrink their bloated balance-sheet in coming months, signaling a consensus against more hawkish action.
The remarks on Friday by Governor Lael Brainard and New York Fed President John Williams, as well as Chicago Fed chief Charles Evans, showed officials eager to get tightening under way, without seeking a supersized interest-rate hike or a move before the next scheduled meeting.