US Fed official says high interest rates likely for 'some time'

A senior official from the US Federal Reserve has stated that interest rates may need to remain higher for a longer period in order to effectively reduce inflation. Despite multiple rate hikes since March 2022, inflation remains above the target of two percent. The official emphasized the importance of holding rates at a sufficiently restrictive level to achieve the desired goals, with the decision being guided by incoming data.

from News-Economic Times https://ift.tt/T3GQpWn