Forex
Fed Official Cites Inflation and Middle East Tensions for Rate Hike
A top Federal Reserve official cited stubbornly high inflation and the resurgence of combat in the Middle East as key factors behind her support for raising borrowing costs last week.
The official also predicted a second rate hike later this year, according to comments made on Monday.
The official's remarks come amid growing concerns about inflation, which has persisted at high levels despite previous rate hikes.