Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady

Federal Reserve Chairman Jerome Powell has acknowledged that inflation in the United States has been more robust than initially anticipated. However, he expects that the interest rates will continue to remain stable. This suggests that the Federal Reserve does not currently plan to implement measures to combat inflation by adjusting interest rates. Instead, the central bank believes that the high inflation rates are temporary and will likely correct themselves without intervention. Despite this, they will keep a close eye on economic indicators to determine if action is required in the future. Would you like to know more about this or something else?

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