Higher rates could be needed to avoid ‘inflationary mindset’ taking hold, says Fed’s Hammack
Summary
Federal Reserve official Hammack stated that borrowing costs might need to rise further. This strategy aims to prevent long-term price pressures from becoming entrenched in the economy. Tighter monetary policy is essential to successfully bring inflation back down.
The Cleveland Fed president said that tighter monetary policy would be needed to bring down inflation.
Source: Read the full story at US Top News and Analysis
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