Fed's George unsure how high rates will need to go to tame inflation
By Alexander Bueso
Date: Thursday 25 Aug 2022
(Sharecast News) - The head of Federal Reserve Bank of Kansas City said the central bank had more work to do in order to tame inflation.
However, in remarks to CNBC, Esther George also said that she was unsure of how high the Fed would need to raise rates, while pointing out that rates work their way through the economy with a time lag, Dow Jones Newswires reported.
George reportedly also declined to say what size interest rate hike she would prefer at the Fed's next policy meeting on 20-21 September, explaining that it was unclear.
The policymaker, who wielded a vote on the Federal Open Market Committee in 2022, also said the economy was cooling and that inflation remained high.
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