Economics
Fed Hawks Back 75 Basis-Point July Hike, Still See Soft Landing
- Waller, Bullard say restrictive policy needed to cool prices
- Half-point increase ‘probably’ warranted in September: Waller
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Two of the Federal Reserve’s most hawkish policy makers backed raising interest rates another 75 basis points this month to curb inflation, while playing down fears the US economy was headed for recession.
Governor Christopher Waller and James Bullard, president of the St. Louis Fed, both stressed the need to get policy into restrictive territory to confront the hottest price pressures in 40 years, even if this meant slowing growth. Both are voting members of the Federal Open Market Committee this year.