BusinessPublished
Fed Chief Urges Action on Inflation Target
The head of the Federal Reserve in Cleveland believes that now is the time to take action on inflation. He suggests that waiting will make it harder to bring inflation back down to 2% and increase costs for the public. His comments come as the Fed considers its next move on interest rates.
At a glance
- The Fed chief believes that interest rates are not restrictive enough to hinder business growth.
- He thinks that waiting to act on inflation will make it harder to achieve the 2% target.
- The American public will incur increased costs if inflation is not brought under control.
- The Fed is considering its next move on interest rates in response to inflation concerns.