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- Sep 22, 2:40 PM EDT
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Two Fed Officials Suggest Interest Rates Will Rise Again
In their remarks after the Federal Reserve Bank decided to hold onto the U.S. key interest rate this week, bank officials exhibited signs that the rebalancing period is not quite over yet.
Federal Reserve Board member Michelle Bowman, speaking at a gathering of Independent Community Bankers of Colorado in Vail, voiced her forecast that in light of energy prices prognosis it will be fitting to bring up the interest rates again and maintain them at restraints for some period of time to bring the inflation down to 2%.
In the backdrop of the Federal Open Market Committee voting on Wednesday for keeping the stipulated key percentage rate unchanged within the range of 5.25%-5.50%, Bowman showed her support for the decision by asserting that FOMC general polls estimate that inflation could still remain above the focused two percent at least up until the end of 2023.
Boston Reserve President Susan Collins seconded Bowman’s opinion as she iterated that certain intermarket indicators seem to guarantee that the rate could very well have to endure at bay higher levels and for longer durations in comparison to formally accepted predictions. Collins’ declaration was given while speaking at the annual revolt of the Maine Bankers Association.
An additional reality influencing intensified consideration is that United States customer charges burst up after 08/m2 rising to 3.7%, impacted very much by energy prices. As per the rumour mill two even more polls stay underway with the upcoming September 2001 and anticipatory December 2001 meetings.
