Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates, CNBC reported. Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the...
US should be cautious when setting interest-rate policy: Fed official
In the wake of the fall of Silicon Valley Bank, the US Federal Reserve should be cautious in setting interest-rate policy. Chicago Fed president Austan Goolsbee said at a conference in Chicago that caution should be exercised until "we see how much work the headwinds are doing for us in...
US Fed makes biggest rate increase since 2000 to fight inflation
With inflation at the highest rate in four decades, Federal Reserve Chair Jerome Powell sent a message directly to the American people, expressing concern for the pain caused by rising prices, and pledging to use all available tools to bring them down. But he told reporters he remains confident the...
