Musalem Signals Fed Rates Should Rise Over Next Six-to-Nine Months

Federal Reserve Bank of St. Louis President Alberto Musalem indicated that interest rates should increase over the next six-to-nine months to help inflation return to the central bank’s 2% target in a timely manner. Speaking with Bloomberg's Michael McKee at the Future of Fixed Income conference in New York, Musalem avoided endorsing a rate hike for the October meeting, stating that he enters every meeting without prejudging the outcome to maintain an objective decision-making process.