Friday, June 21, 2024

Inflation: The US Federal Reserve is ready to raise interest rates if necessary

Date:

Image copyright Reuters

  • author, Farah Masood
  • stock, Business letter

US Federal Reserve Chairman Jerome Powell said the bank would continue to raise interest rates “as long as appropriate” when inflation was “very high”.

And at the annual meeting of U.S. central bankers in Jackson Hole, Wyoming, Powell said the pace of rate hikes has slowed since the peak.

However, inflation is still above the central bank’s target of 2%.

Powell predicted that interest rates could rise further and remain high for a long time.

Nadia Barnett
Nadia Barnett
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