capcomarcadegames| Three Fed officials Qi Fangying: Interest rates should remain high for a longer period of time

Three Fed officials said the Fed should keep interest rates high for longer while policymakers wait for more evidence of slowing inflation, suggesting officials are in no hurry to cut rates.

Cleveland Fed President Loretta Mester, New York Fed President John Williams and Richmond Fed President Thomas Barkin each said on Thursday that inflation may take longer to reach the 2% target.

"Coming economic information suggests it will take longer to gain this confidence," Mester said at an event in Wooster, Ohio on Thursday."As our understanding of the path of inflation becomes clearer, it is prudent to maintain our restrictive stance for longer at this time.

Mester has a vote in decision-making this year. She will step down when her term expires at the end of June. she reiteratedcapcomarcadegamesFollowing comments made earlier this week that monetary policy was in good shape, it is too early to say that inflation progress has stalled.

Williams made similar comments in a Reuters interview published on Thursday, saying he saw no reason to adjust monetary policy now. he saidcapcomarcadegames"I don't expect to gain the greater confidence we need to see in the short term that inflation is moving towards the 2% target."

Barkin told CNBC on Thursday that demand needs to cool further to get inflation to meet the Fed's target. He pointed out that with the repair of supply chains, commodity inflation has fallen sharply.

"In order to achieve 2% sustainably in the right way, I think it will take some time," said Barkin, who also has a vote on decision-making this year.

Mester said Wednesday's price report showed a "welcome retreat" in inflation month-on-month, but she and other central bank officials said they wanted to see more data to be confident that inflation was on track towards the Fed's 2 percent target.

Officials left benchmark interest rates at 5 per cent earlier this monthcapcomarcadegames.25%-5capcomarcadegamesThe.5% range remains unchanged. Federal Reserve Chairman Jerome Powell said Tuesday that officials will "need to be patient and let restrictive policies work."

Barkin echoed this view, pointing out that the Fed needs to keep borrowing costs high for longer to ensure inflation returns to target levels.

The next meeting of Fed policymakers will be held from June 11 to 12.