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Fed’s George Says Rate Hike Debate

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Federal Reserve Bank of Kansas City President Esther George said raising interest rates by half a percentage point

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The central bank confronts the hottest inflation in 40 years

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The size of the increase will need to be weighed alongside plans for shrinking the Fed’s $8.9 trillion balance sheet

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I think 50 basis points is going to be an option that we will have to consider

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We have to be very deliberate and intentional as we remove this accommodation

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Markets see a better-than-even chance that the Federal Open Market Committee will raise its benchmark rate

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By a half point when it next meets May 3-4.

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To bring inflation down to the Fed’s 2% target Central bank officials estimate neutral at about 2.4%