- by foxnews
- 18 Nov 2024
Fed eases pace of interest rate rises after signs inflation may be slowing
Fed eases pace of interest rate rises after signs inflation may be slowing
- by theguardian
- 15 Dec 2022
- in news
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The Federal Reserve lightly tapped the brakes on its high-speed interest rate rises on Wednesday following news that suggested two years of runaway inflation may be slowing down in the US.
Powell made clear that there would be more rate rises next year and the Fed expects inflation to remain elevated in 2023.
The central bank has been raising rates at a pace unseen in decades as it fights to tamp down a cost of living crisis that saw inflation rise to a four-decade high of 9.1% in June.
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