DodoFinance Breaking News Made For You!
It is time for central banks in the United States to begin raising umbrella interest rates. Federal Reserve Chairman Jerome Powell reiterated at a meeting on Wednesday that inflation should “extend” to 2 percent and that labor markets should recover before interest rates rise.
Earlier, policymakers talked about maintaining the current low interest rates of 0 to 0.25 percent by 2023. Powell stressed that some central bank executives are even talking about 2024. “Markets are more focused on what we consider economic forecasts. I will focus more on the consequences we have described, ”Powell said.
He said the United States was entering a period of rapid economic growth and job creation, and that the biggest risk was a new spike in Govt 19 infections due to viral variants. The Face leader said it is wise to constantly wear a mask and maintain social distance.
At last month’s policy meeting, the central bank found no reason to support the ongoing support measures. The promise set a record for US stock markets.
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