Thursday, July 7 2022

© Reuters. FILE PHOTO: Kansas City Federal Reserve Chair Esther George speaks to the National Association for Business Economics in Denver, Colorado, U.S. October 6, 2019. REUTERS/Ann Saphir

WASHINGTON (Reuters) – Kansas City Fed President Esther George said she sees a neutral interest rate for the United States at around 2.5% “as a starting point” of what the Fed should aim for future rate hikes as it assesses its impact. have on the economy.

“We’ll have to watch the evolution of the economy to get a sense of where rate policy is picking up momentum” and how far high rates ultimately need to go, George said, arguing that if consumers, as expected, shift their spending towards services, they may be less influenced by Fed rate hikes.

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