“We are still far from achieving price stability," Fed Governor Michelle Bowman said.
Alan Greenspan expects the Fed to continue to take an aggressive stance towards inflation.
Federal Reserve Bank of San Francisco President Mary Daly said rates may need to go above 3%.
Global economic expansion will likely slow to 3.2% this year, the IMF said.
The bank said services spending is slowing and hot inflation has spurred consumers to pull back.
A steeper-than-anticipated policy tightening may now again be required to return inflation to target.
“The Fed is going to have a hard time slowing down the machine," he said.
Poorer nations are faced with the risk of interest rates increasing while their economies aren't growing.
Other names sent by the White House included Robert Bowes to be a commissioner of the Commodity Futures Trading Commission.
The Trump administration is focused on providing another round of tax cuts to the middle class as early as 2020.
Please log back in before proceeding.
There was an error logging in. Please try again.
Congrats! You are now logged in. Your exam is being submitted.
