US Federal Reserve Vice Chair Lael Brainard said today that it would be appropriate for the Fed to ease interest rate hikes “shortly”, stressing, however, that it should not stop the hike.
“I think it will be appropriate to move at a slower pace soon” in rate hikes, Breidard said in an interview with Bloomberg. The Fed vice president added that “we still have to work on raising interest rates.”
In its quest to curb inflation, the US central bank has raised interest rates four times in a row in recent months, by 75 basis points each. Fed interest rates are now at their highest level since January 2008.
Recent data showing an easing of inflationary pressures in October is “encouraging,” the US Central Bank Vice Governor said.
The next meeting of the Fed’s monetary policy committee is scheduled for December 13-14.
AFP
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