The levers of Powell: The Federal Reserve pauses interest rate hikes, a caution that should continue ...Middle East

After 10 consecutive interest rate hikes meant to squeeze down inflation, the Federal Reserve yesterday held steady at a benchmark rate of between 5 and 5.25%, indicating that the aggressive intervention has yielded results and the central bank is easing off. Let’s hope this pattern holds, because the consequences of too much harsh medicine could be more dire than the ailment.

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