Chicago Fed's Moskow on the US economic outlook

In the speech 'US economic outlook' given on 9 February Michael Moskow of the Federal Reserve Bank of Chicago said U.S. interest rates are at a neutral level, but further increases - even preemptive ones - may be needed depending on how inflation develops.

"Even with the funds rate in the range of neutral, further changes in policy may be appropriate," Moskow said in a speech to the Risk Management Association.

"Anchoring inflationary expectations sometimes requires preemptive policy tightening

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