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MNI INTERVIEW: Fed Should Slow Hikes As Neutral Nears-Wright

(MNI) Washington

Officials do not agree on the neutral level of interest rates, Minneapolis Fed Research Director Mark Wright tells MNI.

Federal Reserve policymakers may consider slowing the pace of interest rate hikes as they approach a neutral rate of interest, although officials have divergent views as to where that key juncture lies, Minneapolis Fed Research Director Mark Wright told MNI.

“The real calculation that a lot of people will be making is do we need to go above the neutral rate, and what do you think the neutral rate is,” Wright said in an interview. His comments came just after Fed minutes released Wednesday showed the FOMC believes policy may have to become restrictive in order to rein in inflation, meaning the fed funds rates would be above the level considered neutral.

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Federal Reserve policymakers may consider slowing the pace of interest rate hikes as they approach a neutral rate of interest, although officials have divergent views as to where that key juncture lies, Minneapolis Fed Research Director Mark Wright told MNI.

“The real calculation that a lot of people will be making is do we need to go above the neutral rate, and what do you think the neutral rate is,” Wright said in an interview. His comments came just after Fed minutes released Wednesday showed the FOMC believes policy may have to become restrictive in order to rein in inflation, meaning the fed funds rates would be above the level considered neutral.

Keep reading...Show less