Interest Rate Statement from FED Officials

The US Federal Reserve (Fed) officials, who expressed that they are stable in the fight against inflation, said that they expect additional rate hikes early next year.

Lisa Cook, a new member of the Fed's Board of Governors, yesterday joined most officials in urging continued rate hikes, while other Fed officials said they saw no signs of easing in the fight to curb inflation. "Inflation in the United States remains stubbornly and unacceptably high, and recent data suggest that inflationary pressures are broad-based," said Lisa Cook, speaking on monetary policy for the first time since joining the Fed's Washington-based board. Another first-time Board member, Philip Jefferson, added that he was "determined" to bring inflation under control. Board member Christopher Waller said, "I expect additional rate hikes early next year." He added that the Fed should not stop raising rates until it sees signs that inflation is easing. Since their last policy meeting, officials have been pointing to a fourth consecutive rate hike of 75 basis points at the November 1-2 meeting, with further rate hikes to follow. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!