Goldman Sachs Vice Chairman and former Dallas Fed President Robert Kaplan said an autumn move would be prudent, warning persistent inflation could prompt multiple rate increases as half of Fed officials expect a hike by year-end.
Goldman Sachs Vice Chairman and former Dallas Fed President Robert Kaplan said the Federal Reserve could need to raise interest rates as early as September if inflation does not cool. He said a September or broader autumn move would be prudent and cautioned that persistent inflation could require a series of two or three hikes. The report also said half of Fed officials expect a rate increase by year-end, highlighting how concern over price pressures is shaping the policy outlook.