Fed officials signal sharp rate hikes to continue as inflation surges

[Kamaji]

Fed officials signal sharp rate hikes to continue as inflation surges

By Thomas Barrabi
August 8, 2022

A pair of top Federal Reserve officials is indicating that additional sharp interest rate hikes are on the way as the central bank scrambles to bring down decades-high inflation.

San Francisco Fed President Mary Daly said Sunday that the Fed is “far from done” in its effort to lower prices. Daly is a member of the rate-making Federal Open Markets Committee on a rotating basis, but doesn’t have a vote this year.

Daly said another half-percentage point hike was “absolutely” possible when the Fed next meets in September. The central bank has hiked its benchmark rate by a larger-than-normal three-quarters of a percentage point last month after inflation surged to 9.1%.

“We need to leave our minds open. We have two more inflation reports coming out, another jobs report,” Daly said during a Sunday appearance on CBS’s “Face The Nation.”

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Source:  https://nypost.com/2022/08/08/fed-officials-signal-sharp-rate-hikes-to-continue-as-inflation-surges/

[catfish1957]

I feel so sorry for the young folks just getting started who will be missing the chance to buy an affordable home.

This is on you, Pedo Joe.

[Fishrrman]

The rate "hikes" aren't high enough.
They need to go higher -- MUCH higher.