Fed Official Favors Smaller, More Frequent U.S. Rate Hikes

A Federal Reserve official said interest rates need to rise further and favored smaller, more frequent increases.

The official said the current policy stance is not restrictive enough. The comments favor distributing rate increases across more frequent decisions instead of relying on larger moves at fewer meetings.

The comments were published at 12:48 p.m. ET Monday (16:48 UTC).