Fed's Hammack Reiterates Need To Raise Rates Right Now; Policy Is Not Restrictive, Businesses Are Excited To Grow And Borrow; Labor Market Is Stable; Inflation Amid Recent Shocks Has Risen; Too Much Growth Could Put Additional Pressure On Prices
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Why It Matters
A Federal Reserve official says the economy is strong and growing fast, which means prices are going up, so interest rates might need to stay higher for longer. When the Fed keeps rates high, borrowing money costs more for companies and people, which can slow down business plans.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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