2023-06-22 16:27:46
US Federal Reserve Chairman Jerome Powell said he did not expect to cut interest rates anytime soon, justifying it by giving themselves “a chance to make the appropriate decisions.”
Powell added, Thursday, “We must wait until we can be confident that inflation will drop to 2% before cutting interest.”
And he expected unemployment rates to rise slightly, noting that there is progress “in supply chains and there is no significant progress in inflation of services.”
“I don’t think the current fiscal policy has become less effective,” he added.
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