Fed Chair Powell could signal the likelihood of high rates for longer in closely watched speech ...Middle East

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By CHRISTOPHER RUGABER AP Economics Writer JACKSON HOLE, Wyoming (AP) — When Federal Reserve Chair Jerome Powell delivers a high-profile speech Friday in Jackson Hole, Wyoming, many analysts think he could make one thing clear: That the Fed plans to keep its benchmark interest rate at a peak level for longer than had been expected. Powell isn’t likely to say whether the Fed will continue raising rates. But he may signal that any rate cuts are unlikely until well into next year. The central bank has already helped drive inflation down from painfully high levels. But Fed officials have said they need to keep rates high to further slow borrowing and spending and reduce inflation to their 2%

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Last updated : 25 August 2023 clock 07:16 AM

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Fed Chair Powell could signal the likelihood of high rates for longer in closely watched speech ...Middle East

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