U.S. Federal Reserve officials on Thursday were non-committal about the size of the interest rate increase they will approve at their Sept. 20-21 meeting, but continued hammering the point that rates will rise and stay high until inflation has been squeezed from the economy.
In an interview with Bloomberg, she said the target federal funds rate may ultimately need to exceed 4 per cent to get the desired impact, and may need to remain high for some time. The interviews with George were broadcast ahead of the kickoff Thursday night of the Kansas City Fed’s annual research symposium here, held as a live event for the first time since 2019.
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