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Fed's Musalem says lowering inflation will require more rate hikes

Kitco Media
By Reuters
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Reuters
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NEW YORK, Oct 8 (Reuters) - Federal Reserve ​Bank of St. Louis ‌President Alberto Musalem said on Thursday that the US ​central bank will need ​to hike rates again ⁠to bring inflation back ​to the 2% target.

“To ​bring inflation back to target in a timely manner, more monetary ​policy firming will ​be required,” the official said at ‌an ⁠event held by Bloomberg in New York.

When asked about what the Fed ​should do ​at ⁠its late October policy meeting, the ​official said, “I go into ​every ⁠meeting with a very open mind and I ⁠haven’t ​prejudged” what ​should happen then.

Reporting by Michael S. ​Derby; Editing by Mark Porter

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