Ex-Fed Official Says Rates of at Least 3.5% Will Be Needed to Slow Inflation
STANFORD, Calif.—A former senior Federal Reserve official said it was likely that the central bank would need to raise its benchmark interest rate over the next year to at least 3.5% or to even higher levels that deliberately slow economic growth to bring down inflation.
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Breaking Down the U.S. Economic Outlook with Larry Summers
Former Treasury…