Fed Warns on Inflation, Says Interest Rates Still Need to Rise

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004745-fed-warns-on-inflation-says-interest-rate/

The United States needs higher interest rates to keep inflation down as the job market tightens and energy prices stay high, Chicago Federal Reserve Bank President Michael Moskow said on Wednesday.

“For me, appropriate policy means that we continue to reduce accommodation and return to a neutral federal funds rate,” Moskow told the Illinois CPA Society. “It is very important that we keep inflation contained.”

The U.S. central bank has raised the fed funds rate at 10 consecutive meetings going back to June 2004, taking the rate to 3.50 percent.

For this complete story, please visit Fed’s Moskow says rates still need to rise.

Fed Warns on Inflation, Says Interest Rates Still Need to Rise

Unknown Author

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