Musalem: More Policy Tightening Necessary to Lower Inflation
St. Louis Fed President Musalem said more monetary tightening is needed to bring inflation back to target, with the economy strong and job market balanced.
Fed's Michael Barr said more rate hikes are likely needed to bring inflation back to 2% in a timely manner.
Growth accelerated further after Tuesday's US S&P Global PMI reached its highest level in five years.
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St. Louis Fed President Musalem said more monetary tightening is needed to bring inflation back to target, with the economy strong and job market balanced.
The US Treasury auctioned $22 billion in 30-year bonds at a 5.618% high yield, achieving strong demand and a B grade.
The Atlanta Fed's GDPNow model for Q3 GDP growth was trimmed to 3.6% from 3.7% after weaker wholesale inventories data.
US wholesale inventories rose less than expected in August, while wholesale sales surged.