A pair of senior Federal Reserve officials on Monday indicated the central bank could raise U.S. interest rates by the end of 2022 based on the rapid...
A pair of senior Federal Reserve officials on Monday indicated the central bank could raise U.S. interest rates by the end of 2022 based on the rapid recovery of the economy and an extended bout of high inflation.
Clarida is seen as close to Chairman Jerome Powell. His comments could be viewed as a sign the top Fed brass might be more open to raising rates sooner than it had planned because of the spike in inflation. Yet Clarida stuck to the view, echoed by Powell, that inflation will slow sharply in 2022 to around 2.25% as labor shortages and supply bottlenecks ease.
If that turns out to be the case, he said, the Fed could finish tapering before next June as now planned.Read: Mystery of the missing millions the only blemish on strong U.S. jobs report
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