Former Fed vice chair: rates stay in 4,5-5% range for a long time

Richard Clarida expects the CB to raise interest rates to 4,5% to 5% and keep them there for some time.

Fed officials expect to raise rates to 4,4 percent by the end of 2022, according to their average estimate released last month, and to 4,6 percent in 2023. Minutes of their September meeting, released Wednesday, showed that many officials saw the need to maintain restrictive rates for " some time," with some saying that such a stance could be held "for as long as necessary."