Fed should hold policy rate steady for 'some time,' Kugler says
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The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. REUTERS/Jose Luis Gonzalez/File Photo
(Reuters) - Federal Reserve Governor Adriana Kugler on Thursday said she believes the U.S. central bank should leave its target for short-term borrowing costs in its current 4.25%-4.50% range, where it is exerting moderate restraint on the economy and on still-elevated inflation.
Noting the net effect of new economic policies is highly uncertain and will depend on the specifics, Kugler told an audience at Georgetown University, "going forward I consider it is appropriate to hold the federal funds rate in place for some time, given the balance of risks that we face right now."
The comment on her preferred policy rate path was not included in the initial published version of Kugler's remarks.
(Reporting by Ann Saphir; Editing by Chris Reese)
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