{"id":17479,"date":"2023-02-10T01:37:28","date_gmt":"2023-02-10T01:37:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/federal-reserve-officials-say-more-interest-rate-hikes-are-needed-to-curb-inflation-economics-bitcoin-news\/"},"modified":"2023-02-10T01:37:28","modified_gmt":"2023-02-10T01:37:28","slug":"federal-reserve-officials-say-more-interest-rate-hikes-are-needed-to-curb-inflation-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/federal-reserve-officials-say-more-interest-rate-hikes-are-needed-to-curb-inflation-economics-bitcoin-news\/","title":{"rendered":"Federal Reserve Officials Say More Interest Rate Hikes Are Needed to Curb Inflation \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Several Federal Reserve governors and presidents say that more interest rate hikes are needed to curb inflation. \u201cWe are not done yet with raising interest rates,\u201d Fed Governor Lisa Cook said. \u201cWe need to raise rates aggressively to put a ceiling on inflation,\u201d Minneapolis Federal Reserve President Neel Kashkari stressed.<\/strong><\/p>\n

Fed Officials on Raising Interest Rates Further<\/h2>\n

Several Federal Reserve governors and presidents said this week that more interest rate hikes are needed to curb inflation. Their comments followed a similar statement by Federal Reserve Chairman Jerome Powell who said on Tuesday that additional interest-rate increases will be needed to cool inflation.<\/p>\n

At an event hosted by the Joint Center for Policy and Economic Studies on Wednesday, Fed Governor Lisa Cook stated:<\/p>\n

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We are determined to bring inflation down to our target \u2026 So I think we are not done yet with raising interest rates, and we will need to keep interest rates sufficiently restrictive.<\/p>\n<\/blockquote>\n

\u201cWe are now moving in smaller steps,\u201d Cook added. \u201cThis will give us time to evaluate the effects of our fast actions on the economy.\u201d<\/p>\n

After a series of 75-basis-point rate hikes last year, the Federal Reserve raised its benchmark interest rate by 25 basis points<\/a> last week to 4.5%-4.75%.<\/p>\n

Citing the January jobs report showing nonfarm payroll growth of 517,000, Fed Governor Christopher Waller said Wednesday at the Arkansas State University Agribusiness Conference, \u201cWe are seeing that effort begin to pay off, but we have farther to go.\u201d He emphasized:<\/p>\n

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It might be a long fight, with interest rates higher for longer than some are currently expecting. But I will not hesitate to do what is needed to get my job done.<\/p>\n<\/blockquote>\n

New York Fed President John Williams said at a Wall Street Journal event Wednesday that moving to a federal funds rate of between 5.00% and 5.25% \u201cseems a very reasonable view of what we\u2019ll need to do this year in order to get the supply and demand imbalances down.\u201d<\/p>\n

In addition, Minneapolis Federal Reserve President Neel Kashkari said on CNBC Tuesday: \u201cWe have a job to do. We know that raising rates can put a lid on inflation.\u201d He added:<\/p>\n

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We need to raise rates aggressively to put a ceiling on inflation, then let monetary policy work its way through the economy \u2026 I\u2019m not seeing that we\u2019ve made enough progress yet to declare victory.<\/p>\n<\/blockquote>\n

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Fed<\/a>, Fed Governor<\/a>, Fed Governor Christopher Waller<\/a>, Fed Governor Lisa Cook<\/a>, fed interest rate hikes<\/a>, fed rate hikes<\/a>, Federal Reserve<\/a>, Federal Reserve Chairman Jerome Powell<\/a>, interest rate increases<\/a>, Minneapolis Fed President Neel Kashkari<\/a>, New York Fed President John Williams<\/a><\/div>\n<\/div>\n

How long do you think the Fed will continue to raise interest rates? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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