Cleveland's Pianalto says hikes on way to neutral

- Central Banking staff
- 22 Apr 2005

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Speaking on Thursday 21 April, Sandra Pianalto, President of the Cleveland Fed, said the Federal Reserve will continue its measured pace of interest rate hikes to bring rates back to neutral and preserve price stability, its most important task.

She said that it was with a "measured removal of accommodation that we are returning to a neutral monetary policy environment."

"A central bank cannot always offset the effects of government deficits on economic growth and stability," said Pianalto, who

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