Esther George, president of the Kansas City Federal Reserve, has reiterated the Fed’s commitment to ameliorating inflation, suggesting that monetary policymakers are less concerned with the effect of rate hikes on equity values despite the recent sell-off in the stock market.
When asked by CNBC’s Steve Liesman about the recent bearish turn in the stock market, George remarked that such a downturn was a predictable consequence of the central bank’s policy of interest rate hikes.
