Fed Officials Call for More Rate Hikes Even as Price Pressures Cool
- Bostic, Cook say inflation remains too high for comfort
- Traders boost quarter-point bets after data on wages, services
Christopher Waller, Lael Brainard, Jerome Powell, Michael Barr, and Michelle Bowman.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Federal Reserve officials Friday stressed further interest-rate hikes are needed to tame inflation even though there are emerging signs that price pressures are cooling.
Atlanta Fed President Raphael Bostic said inflation is still too high and reiterated he favors raising interest rates above 5%, compared to the current level of just below 4.5%. Richmond Fed President Thomas Barkin, in separate remarks, said “we still have work to do” to bring price gains back to the Fed’s 2% goal.