Who Wants to Keep Hiking Rates and Who Doesn’t? Breaking Down the Fed’s Views
- Waller, Mester seen as leading push for tighter policy
- Centrists, led by Powell, have embraced higher rates so far
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The Federal Reserve is reaching a pivotal moment in its fight against inflation. After more than a year of solid agreement that higher interest rates were needed, differences among policymakers have started to deepen as they weigh when to stop hiking and how long to keep rates elevated.
The participants on the Federal Open Market Committee are clustered into three main groups. The hawks are ready to tighten policy and are on the sharp lookout for inflation. The doves are inclined toward an easy policy that favors job creation. And finally, the centrists are seeking a middle ground.