Federal Reserve Chairman Jerome Powell said Monday the central bank is prepared to more aggressively raise interest rates if policymakers conclude that doing so is warranted to curb inflation.
"We will take the necessary steps to ensure a return to price stability," Powell said in remarks prepared for delivery at an economics conference in Washington, D.C.The Fed voted last week to raise its benchmark federal funds rate by 25-basis points to a range between 0.25% and 0.5%. Officials projected at least six more, similarly sized increases over the course of this year.
"If we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so," Powell said. "And if we determine that we need to tighten beyond common measures of neutral and into a more restrictive stance, we will do that as well."
Some economists believe the Fed waited too long to confront the burst in inflation, while others have expressed concerns that moving too quickly to stabilize prices risks triggering an economic recession. Hiking interest rates tends to create higher rates on consumers and business loans, which slows the economy by forcing employers to cut back on spending.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Fed will raise interest rates more aggressively if needed, Powell saysThe U.S. central bank must move 'expeditiously' to bring too-high inflation to heel, Federal Reserve Chair Jerome Powell said on Monday, adding that it could use bigger-than-usual interest rate hikes if needed to do so.
Lire la suite »
Powell Says Fed Will Consider More-Aggressive Interest-Rate Increases to Reduce InflationFederal Reserve Chairman Jerome Powell said the central bank is prepared to raise interest rates in half-percentage-point steps and high enough to deliberately slow the economy if it concludes such steps are warranted to bring inflation down
Lire la suite »
Fed Chair Powell: Reiterates expectations that at the coming meeting will begin balance sheet reductionFed Chair Jerome Powell reiterated on Monday his expectations that at the upcoming Fed meeting, the central bank will begin the process of balance she
Lire la suite »
Fed Chair Powell: I don't see an elevated likelihood of a recession in the next yearFed Chair Jerome Powell remarked in a speech on Monday that he doesn't see an elevated likelihood of a recession in the next year, reported Reuters. A
Lire la suite »
Federal Reserve Bank President Pushes for Faster Rate Hikes — Says the Fed Risks Losing Credibility on Inflation Target – Economics Bitcoin NewsThe president of the Federal Reserve Bank of St. Louis, James Bullard, has called for more aggressive measures to combat inflation and reduce the size of the Fed’s balance sheet.
Lire la suite »
Alabama’s Confederate-honoring Fort Rucker could be renamed after Harriet Tubman, Colin PowellA congressionally mandated Naming Commission for military assets has revealed 87 potential new names for nine Army installations.
Lire la suite »