FED'S MUSALEM SIGNALS MORE RATE HIKES MAY BE NEEDED

Fed's Alberto Musalem says inflation remains elevated, driven by persistent demand pressures and supply shocks.

He warns that further monetary tightening will be required to bring inflation back to the Fed's 2% target, with current conditions warranting consideration of rate increases.

Musalem says the U.S. economy remains strong, while business contacts are more concerned about inflation than the labor market.
(@WalterBloomberg)