In a recent CNBC interview, Kansas City Federal Reserve President Esther George noted that the Fed is looking to tighten financial conditions, of which equity markets are a component, in an effort to tamp down price increases running at their fastest pace in more than 40 years.
She further says that higher interest rates are needed now to bring down inflation and that policymakers are not focused on the impact that is having on the stock market.
“I think what we’re looking for is the transmission of our policy through market’s understanding, and that tightening should be expected,” George told CNBC’s Steve Liesman during a “Squawk Box” interview. “So it’s not aimed at the equity markets in particular, but I think it is one of the avenues through which tighter financial conditions will emerge.”
Read the full CNBC article, written by Jeff Cox:
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