Fed officials push back on rapid interest rate hikes
NEW YORK (AP) — The Federal Reserve is expected to start raising interest rates next month to help contain too-high inflation, New York Federal Reserve Chairman John Williams said Friday. But he added that rate hikes may not have to start as strong as some have suggested.
With inflation at its highest level in two generations, the Fed is expected to seek to cool the economy by raising its benchmark short-term interest rate from its record low of near zero. , where he has been throughout the pandemic. The only question has been how deep and how fast will it be, as too aggressive an approach could stifle the economy while too cautious could let inflation soar further.