Fed raises interest rates to 22-year high
Powell reiterated that policymakers have a long way to go to return inflation to their 2% goal
30 July 2023 - 07:02
The US Federal Reserve resumed raising interest rates and chair Jerome Powell left open the possibility of further hikes, which he emphasised will depend on incoming data that has recently signalled a resilient US economy.
After pausing rate increases in June, policymakers lifted borrowing costs again at their policy meeting on Wednesday for the 11th time since March 2022 to curb inflation...
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