WLTW

Willis Towers Watson Public Limited Company

231.56
USD
-1.19%
231.56
USD
-1.19%
197.63 271.87
52 weeks
52 weeks

Mkt Cap 28.85B

Shares Out 124.61M

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As Fed amps up inflation fight, one policymaker urges caution

May 24 (Reuters) - With the Federal Reserve amping up its fight against 40-year high inflation, one U.S. central banker this week urged caution so as to avoid triggering "significant economic dislocation" with interest-rate hikes that were too sharp. "As we expeditiously return monetary policy to a more neutral stance to get inflation closer to our 2 percent target, I plan to proceed with intention and without recklessness," Atlanta Fed President Raphael Bostic said in an essay released Tuesday on the bank's website. The essay set out in written form what he had laid out in an appearance on Monday: the case for raising interest rates by another half of a percentage point at each of the Fed's next two meetings, as Fed Chair Jerome Powell has signaled, but then to pause on rate hikes in September to see the effects of tighter policy on the economy and inflation. Monetary policymakers must be "mindful" of the uncertain effects of the pandemic, the war in Ukraine and supply constraints on the economic outlook, and "proceed carefully in tightening policy," Bostic wrote. (Reporting by Ann Saphir;) ((Ann.saphir@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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