Fed could lift off in March

WASHINGTON: Federal Reserve (Fed) policy makers could start to raise their target interest rate as soon as March and shrink the central bank’s balance sheet as a next step in response to surging inflation, Federal Reserve Bank of St Louis president James Bullard said.

“The Federal Open Market Committee (FOMC) could begin increasing the policy rate as early as the March meeting in order to be in a better position to control inflation,” Bullard said to the CFA Society St Louis on Thursday.