“Things would have been better if the Fed had started raising interest rates a little earlier,” US Federal Reserve Chairman Jerome Powell said shortly after the Senate ratified his second four-year term as head of the Federal Reserve. of the country.
Calling fixed prices the “cornerstone” of the economy, Mr Powell said the Fed’s battle to control inflation “would involve some pain” in relation to the impact of higher interest rates, with the scenario of a continued rise. of prices to be worse.
“We realize how painful inflation is,” Powell said in an interview with US National Radio, where he reiterated his belief that the rate hike over the next two Bank meetings would be around 50 basis points.
But if macroeconomic data do not show a response, “we are ready to do more,” the Fed chairman said.
Source: Capital
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