Central Banks
Bullard Leads Fed Speakers Pushing Hikes, Defending Credibility
- St. Louis Fed chief wants rates held high for some time
- Chicago Fed’s Evans, Kashkari in Minneapolis back rate hikes
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Federal Reserve officials said they needed to keep raising interest rates to restore price stability, with St. Louis Fed chief James Bullard warning that their credibility was on the line.
“This is a serious problem and we need to be sure we respond to it appropriately,” Bullard told an economic conference in London Tuesday. “We have increased the policy rate substantially this year and more increases are indicated,” in the Fed’s latest forecasts.