Fed Officials Reinforce Hawkish Message on Need for Higher Rates
- New York Fed chief Williams says policy will do what’s needed
- Mester says need rates above 5% until inflation heading lower
This article is for subscribers only.
Federal Reserve officials, hammering home an unapologetically hawkish message, said that they won’t relent on tighter policy until inflation is under control.
New York Fed President John Williams, San Francisco Fed chief Mary Daly and Cleveland’s Loretta Mester all stressed the central bank’s commitment to lowering inflation back to their 2% target and the need for clear evidence of easing price pressures.