8/18, 8:16 PM (Source: TeleTrader)
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Rate hikes to stop when inflation on way down - Fed's George

Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther George noted on Thursday that the central bank will be raising interest rates until it is clearly evident that inflation is on the way down.

There is still an imbalance between the supply and demand in the United States economy, she told the Fairfax Industrial Association of Kansas City. Although the supply situation is showing encouraging signs, it is not expected to help bring inflation down, George added.

She also stated that inflation expectations are seemingly well anchored.

Baha Breaking News (BBN) / MS