Federal Reserve regional bank presidents who gain votes in the new year on the central bank’s interest-rate-setting committee are likely to strongly support raising borrowing costs to try to combat high inflation.
The leaders of the Fed’s Kansas City, St. Louis, Cleveland and Boston reserve banks will become voters in 2022 on the Federal Open Market Committee, under the panel’s annual rotation system. Giving up voting slots will be the chiefs of the Atlanta, Chicago, San Francisco and Richmond, Va., Fed banks.
