Two Federal Reserve officials said Thursday the Federal Reserve’s decision last week to raise interest rates by another 0.25% was necessary because inflation remains too high.
Boston Fed President Susan Collins said raising interest rates by another 0.25% was “appropriate” amid elevated inflation and uncertainty around lasting impacts from the bank crisis.
“While recognizing the heightened uncertainty, I believe staying the course with a one-quarter-percent increase in the policy rate at last week’s FOMC meeting was appropriate,” Collins said in a speech in Washington at the NABE Economic Policy Conference.
Source : Fed officials defend March rate hike citing high inflation and strong banks