Fed cements stance against inflation, rate hike probable
Posted by LeGianT on June 20, 2008
By Alister Bull, Reuters
Updated document.write(niceDate(‘6/10/2008 3:44 PM’));6/10/2008 3:44 PM
Top Federal Reserve officials Tuesday hammered home the U.S. central bank’s determination not to allow inflation to get out of control, making it more likely that interest rates will rise this year.
The remarks by two regional Fed presidents followed hard-line comments Monday from Fed Chairman Ben Bernanke that the central bank would “strongly resist” any deterioration in inflation expectations.