Senior Federal Reserve officials signalled on Thursday that the US central bank would hold interest rates steady at its meeting in September, even as they resisted declaring victory in their fight against inflation.
Lorie Logan, president of the Dallas Fed and voting member on the Federal Open Market Committee, became the latest official to signal support for the central bank to keep its benchmark rate at a 22-year high when the FOMC gathers later this month.
“I’m not yet convinced that we’ve extinguished excess inflation. But in today’s complex economic environment, returning inflation to 2 per cent will require a carefully calibrated approach — not endless buckets of cold water,” she said at a Dallas Business Club event.
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