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- Fed's George: Inflation has shown no meaningful signs of deceleration
Fed's George: Inflation has shown no meaningful signs of deceleration
Kansas City Federal Reserve President Esther George explained on Friday that she dissented against a 75 basis point rate hike because she viewed that move as adding to policy uncertainty simultaneous with the start of balance sheet runoff, as reported by Reuters.
Additional takeaways
"With high inflation and a tight economy, the case for continuing to remove policy accommodation is clear-cut."
"Inflation has shown no meaningful signs of deceleration."
"Speed with which we adjust policy rate is important; significant and abrupt changes can be unsettling to households and small businesses."
"Adjustment speed also has implications for yield curve and traditional bank lending models prevalent among community banks."
"Sharing FOMC's strong commitment to bringing down inflation to achieve our mandate for long-run price stability."
Market reaction
The US Dollar Index continues to push higher after these comments and was last seen rising nearly 1% on the day at 104.80.
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