Musalem says further rate hikes likely needed to quell inflation
St. Louis Fed President Alberto Musalem said the Fed will likely need to hike rates further to lower inflation driven by strong demand and a commodity price shock beyond oil.
The Federal Reserve will likely need to raise interest rates further to bring down inflation driven by strong demand and by a commodity price shock that has extended beyond oil, St. Louis Fed President Alberto Musalem said on Monday. He added that it would be better for the US central bank to do so now than to wait until later.