The nation’s economy is bouncing back from 18 months ago when the coronavirus pandemic rocked both the United States and the international economies. Kansas City Federal Reserve Bank President Esther George says the Federal Reserve acted appropriately by buying assets and lowering interest rates to prop up the ailing economy. She says now the Fed needs to back off, continue to taper asset purchases and begin to discuss raising interest rates. George says she doesn’t want to tighten financial conditions, though.
George becomes a voting member of the Federal Open Market Committee next year. She says interest rates will likely be raised at least twice in the coming year.