Philadelphia Fed's Paulson Warns of Possible Additional Action Against High Inflation

Anna Paulson, president of the Federal Reserve Bank of Philadelphia, warns that additional action may be necessary to combat high inflation. Speaking on August 4, she stated that a modestly restrictive monetary policy stance is needed and that the current policy has already reached this level.

Inflation remains too high, according to Paulson, and she wants to see it move lower. If there is no progress in bringing down inflation, the Fed will need to act, she added.