Several reports detail that U.S. Federal Reserve officials are resolute on tightening monetary policy and increasing the federal funds rate until inflation in America is alleviated. Chicago Fed president Charles Evans explained on Tuesday that the central bank would likely keep up the larger than usual rate hikes until inflation is remedied.
The Fed Is ‘Nowhere Near’ Done When It Comes to Tighter Policy, Central Bank Has Not Seen a ‘Turn in Inflation’
The Federal Reserve is in a predicament as inflation in America is the highest its been since the 1980s. On Tuesday, a report quoting three members of the U.S. central bank indicates that the Fed’s policymakers are still convinced more rate hikes are needed to tame the country’s rising inflation.