Musalem Expects Oil Prices to Keep Fed Rates on Hold
Alberto Musalem says high oil prices will keep core inflation near 3 percent this year. He expects U.S. interest rates to stay steady as global risks persist.
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St. Louis Fed President Alberto Musalem indicated on Wednesday that high energy costs are expected to keep underlying inflation significantly above the central bank's target, likely requiring interest rates to remain at their current levels for an extended period. Speaking in an interview, Musalem noted that the United States central bank is facing a complex environment where oil price shocks are filtering into broader economic measures.
