Federal Reserve Chair Jerome Powell has announced the Federal Open Market Committee (FOMC) is likely to consider and enact a one-half percentage point increase to short-term interest rates during the committee’s May meeting.
St. Louis Federal Reserve President James Bullard is also calling for greater increases to short-term interest rates to reach 3.5 percent by the end of 2022. Cleveland Federal Reserve President Loretta Mester has expressed a desire to take a more methodical approach.
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