{"id":1635832,"date":"2022-09-07T19:50:33","date_gmt":"2022-09-07T23:50:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1635832"},"modified":"2022-09-07T19:50:45","modified_gmt":"2022-09-07T23:50:45","slug":"fed-officials-reluctant-to-call-inflation-peak-as-policy-meeting-looms","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-officials-reluctant-to-call-inflation-peak-as-policy-meeting-looms\/","title":{"rendered":"Fed officials reluctant to call inflation peak as policy meeting looms"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffed-officials-reluctant-to-call-inflation-peak-as-policy-meeting-looms%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1635832&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Howard Schneider and Lindsay Dunsmuir<\/p>\n<p>WASHINGTON (Reuters) \u2013     Federal Reserve officials on Wednesday said they still aren\u2019t convinced the worst of the U.S. inflation scare has passed, in comments that teed up a continuation of the central bank\u2019s aggressive interest rate increases.<\/p>\n<p>\u201cWe are in this for as long as it takes to get inflation down,\u201d Fed Vice Chair Lael Brainard said in an address to a banking conference, echoing past comments by officials from other central banks to do \u201cwhatever it takes\u201d to protect their economies.<\/p>\n<p>The chief risk now, Brainard and others said on Wednesday, remains the worst outbreak of inflation since the 1980s.<\/p>\n<p>The cure: A steep rise in interest rates meant to slow the economy, clamp down on spending, and bring the demand for goods and services more in line with the economy\u2019s ability to produce or import them. The Fed has raised interest rates at its last four policy meetings by a total of 2.25 percentage points, and is expected to lift its policy rate by another 50 or 75 basis points at its Sept. 20-21 session.<\/p>\n<p>Policymakers on Wednesday shied from tipping their hand on that decision. Investors currently expect the larger rate hike to prevail at this point, though monthly inflation data due next Tuesday may influence that outlook.<\/p>\n<p>Fed Chair Jerome Powell may also shape expectations about what is to come when he speaks on Thursday, in what are likely to be his final public comments before this month\u2019s policy meeting. <\/p>\n<p>Those who spoke on Wednesday noted that even as the economy slows overall, the job market remains by some measures historically tight, and data have provided little sense of relief yet from rising prices. <\/p>\n<p>In its most recent \u201cBeige Book\u201d compendium of anecdotal reports about the economy, the Fed noted widespread signs that economic activity was weakening, and \u201csome degree of moderation\u201d of price increases in certain parts of the country.<\/p>\n<p>But overall \u201cmost contacts expected price pressures to persist at least through the end of the year,\u201d the Fed said in its report.<\/p>\n<p>\u2018NEED TO DO MORE\u2019<\/p>\n<p>While Brainard, who spoke to the annual conference of The Clearing House and Bank Policy Institute, noted that the risks to growth and jobs may at some point weigh more heavily on the Fed\u2019s deliberations, she said the lesson from past bouts of inflation was clear: Don\u2019t pull back on rate increases too soon.<\/p>\n<p>A slowdown in the inflation data for July was \u201cwelcome\u201d Brainard said, but \u201cit will be necessary to see several months of low monthly inflation readings to be confident that inflation is moving back down\u201d to the Fed\u2019s 2% target.<\/p>\n<p>Annual inflation, using the Fed\u2019s preferred measure, is currently above 6%.<\/p>\n<p>In her first policy remarks since taking over as president of the Boston Fed, Susan Collins said \u201cwe\u2019ve not yet seen significant declines in prices, and that\u2019s what we\u2019re going to be looking for.\u201d<\/p>\n<p>\u201cWe need to do more,\u201d Collins said in a podcast interview with staff from the regional bank.     <\/p>\n<p>In separate comments, Cleveland Fed President Loretta Mester said she was concerned higher inflation may already be in train as the full effect of things like rising prices for services and rents is felt.     <\/p>\n<p>\u201cI\u2019m not even convinced that inflation\u2019s peaked yet,\u201d Mester said in a webcast with Market News International. Services inflation \u201ctends to be much more persistent and rents are still very elevated \u2026 It takes a while for rents to show up in underlying inflation. There\u2019s still more that\u2019s going to show up.\u201d<\/p>\n<p> (Reporting by Howard Schneider; Editing by Paul Simao)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2746292\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8612S-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8612S-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) \u2013 Federal Reserve officials on Wednesday said they still aren\u2019t convinced the worst of the U.S. inflation scare has passed, in comments<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1635832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1635832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1635832"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1635832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1635832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1635832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1635832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}