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Fed has tools, ‘resolve’ to bring inflation down: Powell

canada inflation 7.7%
Source: Pix4free

The US central bank is committed to bringing down high American inflation and could hike the benchmark interest rate by another 0.75 percentage points in July, Federal Reserve Chair Jerome Powell said Wednesday.

“Clearly, today’s 75 basis point increase is an unusually large one and… either a 50-basis-point or a 75-basis-point increase seems most likely at our next meeting,” Powell told reporters.

He said the Fed has the “tools” and the “resolve” to do what it takes to lower inflation from the highest level in more than 40 years.

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AFP

Agence France-Presse (AFP) is a French state-owned international news agency based in Paris. It is the world's oldest news agency, having been founded in 1835 as Havas.




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