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Fed Vice Chair Says ‘Appropriate soon’ to Slow Rate Hikes

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It likely will be “appropriate soon” for the US central bank to slow the pace of interest rate increases, Federal Reserve Vice Chair Lael Brainard said on Monday. online news

Her comments came as red-hot consumer prices, which have squeezed American households, showed signs of easing, and after the Fed delivered a fourth straight super-sized rate hike to cool the economy.

But with inflation still hovering at their highest levels in recent decades, the Fed still has “additional work to do both on raising rates” and tamping down high prices, she said in the event with Bloomberg.

The closely-watched consumer price index released last week showed US inflation logged its lowest annual increase since January, fueling hopes that soaring costs will start to pull back.

The Fed has raised the benchmark lending rate six times this year, but there is a growing chorus of voices recently, including some Fed officials, advocating for smaller steps in coming months.


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