WASHINGTON: United States inflation is starting to cool but the road ahead will likely be long and bumpy, Federal Reserve Chair Jerome Powell warned on Tuesday (Feb 7), adding that stronger-than-expected economic data could bring more rate hikes. The US central bank has in recent months temper
WASHINGTON: United States inflation is starting to cool but the road ahead will likely be long and bumpy, Federal Reserve Chair Jerome Powell warned on Tuesday , adding that stronger-than-expected economic data could bring more rate hikes.
"If the data were to continue to come in stronger than we expect, and we were to conclude that we needed to raise rates more ... then we would certainly do that," said Powell at an event in Washington on Tuesday.Fed delivers small rate increase; Powell suggests 'couple' more hikes coming He expects 2023 to be a year of"significant declines in inflation", but that the figure will only come down close to officials' 2 per cent target next year.
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