Fed officials signal additional rate hikes warranted to slow the economy

Federal Reserve officials said they expected to continue raising borrowing costs through at least early next year to slow the economy and curb high inflation.

Chicago Fed Chair Charles Evans told reporters on Tuesday that he hoped the central bank would be able to moderate its rate hikes for the remainder of the year after rate hikes in unusually large steps during the past two meetings. But he held off the possibility of another supersize rate hike at the Fed’s next meeting on Sept. 20-21.

Leave a Comment