US: Fed prepared to raise interest rates ‘aggressively’

Monday, March 21, 2022 | Tag Cloud Tags: , , ,

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(Worthy News) – The US central bank must be swift in bringing “much too high” inflation to heel, Federal Reserve Chair Jerome Powell said Monday, adding that the bank could “aggressively” raise interest rates if necessary.

In remarks prepared for delivery to a National Association of Business Economics conference, Powell said the US “labor market is very strong, and inflation is much too high.”

“There is an obvious need to move expeditiously to return the stance of monetary policy to a more neutral level, and then to move to more restrictive levels if that is what is required to restore price stability.” [ Source: i24 (Read More…) ]

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