Central Banks
Fed Officials Suggest Interest Rates Should Stay High for Longer
- Mester, Williams and Barkin say taking longer to cool prices
- More data needed to be confident inflation is headed to 2%
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Several Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates.
Cleveland Fed President Loretta Mester, New York Fed President John Williams and Richmond Fed President Thomas Barkin, speaking separately Thursday, argued it may take longer for inflation to reach their 2% target.