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Higher rates are likely to be warranted, even if the central bank foregoes a June hike, governor Christopher Waller says. Higher rates are likely to be warranted, even if the central bank foregoes a June hike, governor Christopher Waller says. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all…

WASHINGTON—Federal Reserve officials raised concerns at their meeting last month that investors’ optimism that the central bank might end its rate rises could make it more difficult to slow the economy and combat high inflation. Minutes of the gathering, released Wednesday, didn’t shed any light about what might prompt officials to raise rates by another 0.5 point at their meeting next month or to reduce the pace of increases once more, raising them instead by 0.25 point.…

Austan Goolsbee, who served as a top economic adviser to former President Barack Obama, will become the next president and chief executive of the Federal Reserve Bank of Chicago, the bank said Thursday. Mr. Goolsbee, 53, is a professor of economics at the University of Chicago’s Booth School of Business. He was chair of the White House Council of Economic Advisers from 2010 to 2011.…

Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would make durable downward progress toward its 2% goal. Because the Fed has raised rates rapidly and it takes time for those moves to influence the economy, it would make sense for officials to slow rate increases, he said in remarks prepared for delivery at the Brookings Institution. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he said.…

The Marriner S. Eccles Federal Reserve building in Washington last August. Photo: Graeme Sloan/Bloomberg News…

WASHINGTON—Federal Reserve officials expressed concern at their meeting last month over the persistence of high inflation and expected that bringing prices and wages down would likely require the labor market to weaken. Many officials revised higher their expectations for anticipated rate rises, though some signaled greater caution about overdoing increases due to elevated risks of economic and financial volatility, according to minutes of the Sept. 20-21 gathering released Wednesday.…

‘I support another significant increase in the policy rate,’ says Christopher Waller, ‘to get the policy rate to a setting that is clearly restricting demand.’ Photo: Patrick Semansky/Associated Press…

WASHINGTON—Federal Reserve officials concluded at their meeting last month that they needed to pick up the pace of interest-rate increases because the inflation outlook had deteriorated and that, as a result, rates would need to rise to levels designed to deliberately slow economic growth.Officials voted to raise their benchmark rate by 0.75 percentage point in June, a bigger increase than their half-point move in May. Officials anticipated another rate increase of either a half percentage point or 0.75 point would be…