Fed officials lean against large increase to kick off rate hikes | Malay Mail

WASHINGTON, Feb 19 — Federal Reserve officials yesterday squelched what had been rising market expectations for an aggressive initial response to 40-year-high US inflation, signaling that steady interest rate hikes should be enough to do the trick.

“The market is clearly aligned with that and brought forward the changes in financing conditions in a way that’s consistent with our communications and data,” Brainard said. The remarks came at the end of a tumultuous week in which traders piled into, and then backed away from, bets that the Fed would begin a round of rate hikes next month with a bigger-than-usual half-point increase.

With Fed Chair Jerome Powell publicly silent since January, Williams’ and Brainard’s comments provide the best steer yet on the prevailing view at the Fed’s policy-setting core.

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