By Michael S. Derby
NEW YORK, Oct 8 (Reuters) – Federal Reserve Bank of St. Louis President Alberto Musalem said on Thursday that the US central bank will need to hike rates again to bring inflation back to the 2% target.
“To bring inflation back to target in a timely manner, more monetary policy firming will be required,” the official said at an event held by Bloomberg in New York.
When asked about what the Fed should do at its late October policy meeting, the official said, “I go into every meeting with a very open mind and I haven’t prejudged” what should happen then.
(Reporting by Michael S. Derby; Editing by Mark Porter)
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