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Fed's Musalem Says More Rate Hikes Needed Soon
Original: Fed’s Musalem Says Additional Firming of Monetary Policy Will Be Necessary, and Soon
St. Louis Federal Reserve President Alberto Musalem said additional tightening of monetary policy will be necessary, and soon, signaling he sees further interest rate increases ahead to bring inflation back to the central bank's 2% target. His comments add to a cautious chorus of Fed officials and put markets on alert for possible rate moves at upcoming meetings.
Why now: Investors and economists are closely watching Fed officials' remarks for clues on the path of interest rates amid persistent inflation concerns.
Alberto MusalemFederal ReserveSt. Louis Fed
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