Fed expected to raise rates ‘quickly’ this year, official says

The US central bank has already hiked rates twice this year, in March and early May, to curb inflation.

US central bank expected to raise ratesrapidlyby the end of the year, after two initial increases in March and early May, in order to slow inflation, the president of the New York branch of the Fed, John Williams, said on Tuesday.

I expect the FOMC (monetary policy committee, editor’s note) to act quickly to bring key rates back to more normal levels this year“, or around 2 to 2.50%, against 0.75-1.00% today, indicated this official, voting member of the monetary committee, during a conference in Germany of the Bundesbank and the National Association for Business Economics (NABE).

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