Washington: Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome
Washington: Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome Powell said Friday, the media reported.
In a highly anticipated speech Friday at the Kansas City Fed’s annual economic symposium in Jackson Hole, Wyoming Powell said the Fed will pay close attention to economic growth and the state of the labor market when making policy decisions, CNN reported.
“Although inflation has moved down from its peak — a welcome development — it remains too high,” Powell said.
