Fed Officials Signal More Rate Hikes May Be Needed

Federal Reserve officials said they supported raising interest rates and warned that inflation pressures may take time to ease. Fed's Barkin said one rate hike may not be enough to tame inflation and noted the economy may be firming, with inflation not limited to energy or tariff shocks. Collins said she supported the rate hike and warned of elevated inflation risks. The rate increase is also being felt across the Asia-Pacific region.