BUSINESSFORTUNE
A former Fed colleague of Kevin Warsh on what to expect: ‘Plan for higher rates’
Kevin Warsh, the new Fed Chair, faces pressure to address inflation as former Fed official Esther George advises Americans to prepare for higher interest rates. The Fed held rates steady at 3.5%-3.75% amid persistent inflation above 4%, with nine FOMC members projecting rate hikes before year-end. Bank of America forecasts three quarter-point hikes this year, raising the benchmark rate to 4.25%-4.5%.
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