Fed Officials Defend Rate Hikes

Federal Reserve board members are expected to speak this week to defend their latest interest rate hikes and monetary policy.

Over the weekend, Atlanta Federal Reserve president Raphael Bostic told reporters he believes the Fed can achieve its goal of 2% inflation without severely damaging the economy. Last week, the Fed raised its target interest rate range by 75 basis points in an effort to curb persistently high inflation. However, Bostic also acknowledged there could be job losses because of the rate hikes. 

A slew of Fed officials will follow to give speeches this week. On Monday, Cleveland Fed Chief Loretta Mester is scheduled to speak on the economic outlook and monetary policy at MIT. Boston Fed President Susan Collins will give an address on strengths and challenges in the national and regional economies before the Boston Chamber of Commerce. Dallas Fed President Lorie Logan is set to participate in a discussion at the Independent Bankers Association of Texas.

Later in the week, Vice Chair Lael Brainard, New York President John Williams, Chicago Fed President Charles Evans, and St. Louis Fed President James Bullard will also give speeches discussing the economy and monetary policy.

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