Musalem says Fed needs more rate hikes to cut inflation
St. Louis Fed President Alberto Musalem said the Fed will need to hike interest rates again to return inflation to its 2% target, declining to specify what policymakers should do at their late-month meeting.
St. Louis Federal Reserve President Alberto Musalem said on Thursday the US central bank will need to raise interest rates again to bring inflation back to its 2% target, although he did not say what policymakers should do at their meeting later this month.