Here is a roundup of recent comments from central bankers:
Chairman Jerome Powell (voter), March 2 congressional testimony: “I do think it will be appropriate to raise our target range for the federal-funds rate at the March meeting in a couple of weeks. I’m inclined to propose and support a 25-basis-point rate hike.”
Governor Michelle Bowman (voter), Feb. 21 speech: “I support raising the federal-funds rate at our next meeting in March and, if the economy evolves as I expect, additional rate increases will be appropriate in the coming months. I will be watching the data closely to judge the appropriate size of an increase at the March meeting.”
Governor Christopher Waller (voter), Feb. 24 speech: “The pace of tightening will depend on the data…Should the data break against us in the coming weeks, we need to be prepared to hike the policy rate by 50 basis points.”
New York Fed President John Williams (voter), Feb. 18 speech and comments to reporters: “I expect it will be appropriate to raise the target range at our upcoming meeting in March,” but “I don’t see any compelling argument to take a big step at the beginning.”
Cleveland Fed President Loretta Mester (voter), March 3 CNBC interview transcript: “My view is we are on a path of removing accommodation and starting with 25 [basis points] followed by further increases in coming months, I think puts us in a good position.”
St. Louis Fed President James Bullard (voter), March 2 speech: Inflation is far above the central bank’s 2% target and “the case is pretty clear that this calls for rapid withdrawal of policy accommodation.”
Kansas City Fed President Esther George (voter), Feb. 11 WSJ interview: “What I am comfortable saying is, it’s going to take a series of rate increases and seeing how the economy responds…to really get a good gauge on what’s going to be required of us.”
— Michael S. Derby
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March 17, 2022 at 12:51AM
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Fed Meeting Latest News: Interest Rates Set to Rise for First Time Since 2018 - The Wall Street Journal
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