US Fed official supports higher rates to curb inflation
A key U.S. central bank official has said that she backs higher interest rates to curb inflation, in a signal that she could push back on a decision to keep rates unchanged this month.
“I currently believe modestly higher interest rates would better balance the outlook and risks” for the Federal Reserve, said Dallas Fed President Lorie Logan in Houston.
The Fed’s rate-setting committee is next set to gather on July 28-29, and Logan is one of its 12 voting members.
She noted that inflation has been above the Fed’s two-percent target for more than five years, straining the budgets of households and businesses.
