Babaamaajimowinan (Telling of news in different places)
Babaamaajimowinan (Telling of news in different places)
The central bank's main rate will now be in a range of 3.75% to 4%
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve, July 27, 2022, in Washington.
WASHINGTON - Federal Reserve Chair Jerome Powell sought Wednesday to strike a delicate balance at a moment when high inflation is bedeviling the nation's economy and commanding a central role in the midterm elections.
Powell suggested that the Fed may decide in coming months to slow its aggressive interest rate increases. Yet he also made clear that the Fed isn't even close to declaring victory in its fight to curb an inflation rate that is near four-decade highs and has shown few signs of ebbing.
When the Fed ended its latest policy meeting Wednesday, it announced that it was pumping up its benchmark rate by a substantial three-quarters of a point for a fourth straight time. Its key rate now stands in a range of 3.75% to 4%, the highest in 15 years.
https://www.startribune.com/powell-rate-hikes-may-slow-but-inflation-fight-hardly-over/600221206/
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