Monetary policy

Federal Reserve Bank of St. Louis President James Bullard urged policymakers to raise interest rates further, saying the level will need to be higher to meet the central bank's goal to be "sufficiently restrictive" to bring down inflation.

Federal Reserve officials stressed the need to keep raising interest rates while acknowledging recent encouraging news on U.S. consumer prices.

Federal Reserve Governor Christopher Waller said "we've still got a ways to go" before the central bank stops raising interest rates, despite good news last week on consumer prices.

The Federal Reserve looked closer to moderating aggressive interest-rate increases after welcome news on inflation, with three officials backing a downshift even as they stressed that policy needs to stay tight.

Federal Reserve Bank of Richmond President Thomas Barkin said the U.S. central bank will "persist" in its efforts to bring high inflation under control.

Boston Federal Reserve Bank President Susan Collins said monetary policy is entering a new phase that could require smaller rate increases.

With the Federal Reserve's hike pretty much expected, analysts will search for clues about future moves.

In a letter to Federal Reserve Chair Jerome Powell, the chair of the Senate Banking Committee warned that the Fed was in danger of going too far in its efforts to tame inflation.

The day after the FOMC announces its policy decision, Christian Scherrmann, U.S. Economist at DWS Group, will offer his take on the meeting, Fed Chair Powell's press conference and what comes next.

"It should at least be something we're considering at this point, but the data haven't been cooperating," Daly said Friday.