Powell says that Fed may need more aggressive rate hikes ...Middle East

The Hill - News

The Federal Reserve may need more aggressive interest rate hikes as cooling in the U.S. economy and inflation appears to have “partly reversed,” Federal Reserve Chair Jerome Powell said Tuesday. The warning from Powell comes as the Biden administration continues its fight to tame inflation, and could signal a reversal from the central bank after it slowed rate hikes late last year, when there were indications that the U.S. economy may be weakening. But Powell told members of the Senate Banking Committee on Tuesday that recent economic indicators, such as jobs data, spending and inflation show that the cooling that presented itself may have begun to reverse, saying the numbers have c

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Powell says that Fed may need more aggressive rate hikes ...Middle East

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