NEW YORK — The Federal Reserve should start raising interest rates next month to help rein in too-high inflation, Federal Reserve Bank of New York President John Williams said Friday. But he added that the rate hikes may not have to begin with as big a bang as some have suggested. With inflation at its hottest level in two generations, the Fed is widely expected to seek to cool the economy by raising its benchmark short-term interest rate from its record low of nearly zero, where it’s been throughout the pandemic.
Comment on Federal Reserve officials push back on rapid interest rate hikes
Stan Choe, Christopher S. Rugaber, Denver Post: Business
Fri, 02/18/2022 - 2:13pm
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