Fed Officials Point to Further Rate Increases as Inflation Persists
publishers 5articles 7first reported 23 Sep, 18:12 UTCdeveloping since 23 Sep · 5 editions
Federal Reserve officials said additional interest-rate increases may be needed this year to bring persistent inflation back toward the central bank’s target.
Fed Governor Michael Barr said Wednesday that the central bank would “likely” raise rates again after last week’s unanimous increase, the first in more than three years. Barr is a voting member of the Federal Open Market Committee, which sets monetary policy.
New York Fed President John Williams said Thursday at the London Macro Policy Forum that it was “reasonable” to expect another U.S. rate increase by the end of the year. Philadelphia Fed's Anna Paulson likewise said further action may be required, describing the likely moves ahead as “modest.”
Markets are increasingly anticipating an increase at the Fed’s October meeting, CNBC reported. That expectation followed the officials’ comments and a fresh inflation reading from S&P Global, whose overall inflation measure reached its highest level since October 2022.
Not all observers agree with the market’s outlook. A former president of the Dallas Fed told MarketWatch that bond investors were becoming too aggressive in pricing in multiple rate increases.
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Written from 7 articles, 4 with the publisher's own text; 5 independent newsrooms once syndicated copies count as one; the editor revised it.
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