WASHINGTON: US Federal Reserve Chair Jerome Powell said on Wednesday (Jun 28) that the central bank is leaving open the possibility of consecutive interest rate hikes
The Fed recently paused its aggressive cycle of rate increases after 10 consecutive hikes, to give policymakers more time to weigh the effects of existing moves on inflation.
"We believe there's more restriction coming," Powell told a central banking conference in Portugal on Wednesday. Inflation has fallen since the Fed's cycle of monetary tightening began, but it remains well above target.
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