The Federal Reserve reaffirmed that it is unlikely to take its foot off the pedal as it continues to raise interest rates until inflation eases in a meaningful way.
The Federal Reserve reaffirmed that it is unlikely to take its foot off the pedal as it continues to raise interest rates until inflation eases in a meaningful way, with officials indicating that it will “take some time” before a reversal in monetary policy, according to theManuel Balce Ceneta/Associated PressFed officials “emphasized” that a slowdown in demand would “play an important role” in reducing inflationary pressures, with most participants saying that it would likely “take some time”...
The Federal Reserve raised interest rates by 75 basis points at its last policy meeting in July—the second such rate hike in as many months—in an effort to bring down inflation, which remains “elevated” and is yet to decline in a “meaningful” way.
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