Yes. In a September 21, 2026 interview with Reuters, St. Louis Federal Reserve Bank President Alberto Musalem said the Fed will likely need to raise interest rates further to bring down inflation fueled by strong demand and a commodity-price shock that has moved beyond oil.
Musalem said that without further policy restraint, inflation is more likely to be substantially above the Fed’s 2% target in 18 months than at target, and that “earlier and incremental” firming would be less disruptive than waiting for larger action later. He described the current 3.75%–4.00% policy rate as still on the accommodative side.
Source: Reuters