Inflation concerns persist despite positive Fed policy outlook.
TL;DR Summary
Two US central bankers, Fed Governor Philip Jefferson and St. Louis Fed President James Bullard, have said that the Federal Reserve is getting interest rates closer to where they need to be to win the battle against inflation, but neither gave a clear signal on whether they feel they have reached that point. A third US central banker, Governor Michelle Bowman, signaled she feels further policy tightening may yet be appropriate, unless inflation drops more convincingly. The Fed has raised its benchmark interest rate five full percentage points over the past 14 months - the fastest pace of tightening in 40 years.
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