Fed Rate Hikes Needed To Cool Inflation Despite Potential Credit Tightening by Banks: Michael Busler

Treasury Secretary Janet Yellen says banks are likely to tighten lending and that will be enough to keep the Federal Reserve from having to raise interest rates to cool inflation. NTD speaks to Michael Busler, professor of finance at Stockton University, who disagrees with her stance. Busler says the Fed will probably need to lift rates in May and once or twice more before the year’s end—to 6 percent to have a long-term impact on curbing inflation.