On October 9, Fed's Musalem stated that further tightening of monetary policy is necessary to bring inflation back to target, and interest rates should be raised in the next 6 to 9 months. The economy is currently quite strong, and the best thing the Fed can do is to lower inflation; market inflation expectations remain stable, and there has been no indication of a loss of credibility for the Fed.
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Fed's Musalem: Further Tightening of Monetary Policy Needed to Bring Inflation Back to Target; Rates Should Be Raised in Next 6 to 9 Months
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