Global: Fed May Need to Raise Rates to 6%, Monetary Economist Taylor Says

The Federal Reserve needs to raise interest rates significantly higher, to perhaps 6%, to reduce inflation, influential monetary economist John Taylor said on Friday (November 11, 2022).

He told an economic conference in New York that rates were still “quite low” when measured in real, inflation-adjusted terms or when compared to monetary policy rules like the one he developed some 30 years ago and which bears his name.