Santomero: Fed must be alert to inflation signs

- Central Banking staff
- 19 May 2004

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Philadelphia Federal Reserve President Anthony Santomero said on Tuesday 18 May the central bank must be mindful of further signs of inflation pressures, but can generally expect to raise rates at a "measured pace," as last stated by the FOMC.

Santomero also repeated comments he made at a Market News International forum last week, that the bond markets have already begun to raise interest rates, effectively working for the Fed and that determining the actual rate level of a neutral monetary

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