Mosalam: Fed might hike rates further

The President of the Federal Reserve Bank of St. Louis, Alberto Mosalam, indicates that the Federal Reserve may need to raise interest rates again to combat high inflation caused by demand-driven factors, alongside supply-side elements such as rising raw material and oil prices, and a surge in semiconductor-related metal prices linked to artificial intelligence. He emphasized that the current inflation requires more stringent measures to control it and that early action to bring inflation down to the 2% target within 18 months is preferable, while maintaining a stable labor market. He also pointed out that inflation has exceeded expectations despite progress in mitigation efforts, and that it is driven by both demand and supply factors. Additionally, he forecasts at least three more rate hikes in the coming months.

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