Federal Reserve Governor Susan Bies said on Monday the U.S. central bank must step up its vigilance against inflation but indicated that she believed “measured” interest-rate rises could control it.
In prepared remarks to a business luncheon, Bies said long-term inflation expectations appear well contained, “though inflation pressures have risen somewhat in recent months” and bear watching.
“I believe that, while underlying inflation is expected to continue to be low, the Federal Reserve must be more alert to incoming data, and continue to remove policy accommodation at a measured pace, consistent with the incoming data and (the Fed’s) commitment to maintain price stability,” Bies said.
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