St. Louis Fed president says more rate hikes likely needed to quell inflation

Alberto Musalem, president of the Federal Reserve Bank of St. Louis, speaks Tuesday, June 18, 2024, at the Missouri Athletic Club on Washington Avenue in St. Photo by Christine Tannous, ctannous@post-dispatch.com WASHINGTON — The Federal Reserve will likely need to hike interest rates further to lower inflation resulting from strong demand as well as a commodity price shock that has moved beyond oil, St. Louis Fed President Alberto Musalem said on Monday, adding that it would be better for the US central bank to act sooner than wait.

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