The Federal Reserve may need to raise rates sooner than it expects, according to a report released Thursday by the Federal Reserve Bank of Cleveland.
In the report, bank economists said they used seven different rules to determine that the ideal setting for the Fed’s short-term interest rate target should be at negative 0.47% for the current quarter. It then should rise to negative 0.31% in the final quarter of next year and then to a positive 0.67% by the final quarter of 2022, they said.
Those…
