Two Fed officials point to caution about future rate hikes


Two Federal Reserve officials began making a case for caution in raising interest rates after policymakers last month telegraphed plans to continue raising interest rates at their fastest pace in decades to reduce inflation that has hit 40-year highs .

Fed Vice Chairman Lael Brainard noted how past rate hikes, along with expected further rate hikes, will slow the economy in ways not yet observable during a speech Monday at a conference of business economists in Chicago.

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