Fed Governor Christopher J. Waller has said he will support another 75bp rate hike in July if the data justifies it.
The Bank of England’s Monetary Policy Committee increased interest rates by 25bp to 1.25% at their June meeting.
As expected by many, the Federal Reserve raised the target federal funds rate 75bp to 1.5-1.75%.
ECB Governing Council member Peter Kazimir has said the central bank needs to raise rates by 50bp in September.
At a press conference, ECB President Christine Lagarde said that a rate rise above 25bp could happen in September if the inflation outlook does not improve.
Former Treasury Secretary Lawrence Summers has said there is evidence that Fed rate rises are having an impact on the US economy.
Former Bank of England MPC member Andrew Sentance says rates need to rise by another 3% to control inflation.
Cleveland Fed President Loretta Mester has said she doesn’t see enough evidence that US inflation has peaked.
The Fed’s vice-chair Lael Brainard has said that a half-point rate rise may be required in September if inflation does not fall.
US president Joe Biden has told Jay Powell that he will respect the independence of the Fed.