I dealt with the reports of Thomas Park, a member of the Federal Reserve Bank of the United States in Richmond County; Yesterday was Thursday; Several points, in particular:

• Once it sees evidence that inflation is slowing, the US Federal Reserve will support a decision to cut interest rates.
• While the US Federal Reserve is still far from its 2% inflation target, demand is higher than the pre-pandemic trend, causing prices to rise.
• Demand does not appear to be weakening.
• Higher inflation will support further interest rate hikes.
• A few more pandemic-era factors are driving higher interest rates, including excess savings, as well as housing and property wealth and financial costs.
• He will not pre-empt the outcome of the central monetary policy committee meeting in July.

At the same time, Michelle Bowman, a member of the US Federal Reserve, Nasira Parkin said that additional interest rate hikes would be necessary until a level of control sufficient to contain high inflation was achieved.

“Inflation remains unacceptably high despite a decline in headline inflation,” he said, adding, “I applaud the FOMC’s decision last week to keep the target range for the federal funds rate steady and continue to reduce the U.S. Federal Reserve’s holdings.”.

A member of the US Federal Reserve strongly supports additional rate hikes for this reason!