Fed united on need for higher rates, divided over how high
August 22, 2022 by Ann Saphir and Howard Schneider
Aug 18 (Reuters) – The Federal Reserve needs to keep raising borrowing costs to bring high inflation under control, a string of U.S. central bank officials said on Thursday, even as they debated how fast and how high to lift them.
St. Louis Fed President James Bullard, who was among the central bank’s earliest advocates last year of a more muscular response to fast-building price pressures, said that given the strength of the economy he is currently leaning toward supporting a third straight 75-basis-point interest rate hike in September.
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