Fed Officials Signal More Rate Hikes to Fight Inflation

Federal Reserve officials said more interest rate hikes are likely needed to bring inflation down to the central bank's 2% target. St. Louis Fed President Alberto Musalem said additional increases may be required to cool prices, while Chicago Fed President Austan Goolsbee warned the path to 2% inflation may not be painless and that strong demand could be adding to price pressures. The comments come as markets weigh the Fed's hawkish stance against uncertainty. The Fed and the Bank of England are also reportedly examining banks' exposure to trading firms after a loss at Jane Street.