The U.S. central bank has lifted its policy rate by 5.25 percentage points over the last 18 months, raising the cost of borrowing for households and businesses to temper demand and cool what had been 40-year high inflation.
"Another skip could be appropriate when we meet later this month," Dallas Fed President Lorie Logan said late on Thursday. "My base case, though, is that there is work left to do." In June, the last time the Fed published economic projections, two-thirds of Fed policymakers indicated they thought rates would need to rise to above 5.5% by year's end in order to bring inflation down sustainably to the Fed's 2% goal.
Underlying price pressures, however, likely continued to cool, according to a Reuters poll of economists.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: