Current location:Culture Cross news portal > style
A top Federal Reserve official opens door to keeping rates high for longer
Culture Cross news portal2024-05-21 12:15:10【style】3People have gathered around
IntroductionWASHINGTON (AP) — Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central ban
WASHINGTON (AP) — Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central bank’s key rate may have to remain at its peak for a while to bring down persistently elevated inflation.
In a speech, Jefferson said he expects inflation to continue to slow this year. But he omitted a reference to the likelihood of future rate cuts that he had included in a previous speech in February. Instead, he said his outlook is that inflation will cool even with the Fed’s key rate “held steady at its current level.”
If elevated inflation proves more persistent than he expects, Jefferson added, “it will be appropriate” to keep rates at their current level “for longer” to help slow inflation to the Fed’s 2% target level. U.S. consumer inflation, measured year over year, was most recently reported at 3.5%.
Jefferson’s remarks appeared to open the door to the prospect that the Fed will dial back its forecast, issued at its most recent policy meeting in March, that it would carry out three quarter-point cuts this year to its benchmark rate, which stands at about 5.3%. Chair Jerome Powell is scheduled to speak later Tuesday and may comment on the Fed’s potential timetable for rate cuts.
Address of this article:http://afghanistan.bahnsport.org/content-88b599345.html
Very good!(6764)
Related articles
- Not so Cool Britannia! Noel Gallagher gives damning verdict on Keir Starmer
- Married couple are charged with fraud after 'dine
- Dairy cattle must be tested for bird flu before moving between states, agriculture officials say
- Artist who covered sports car with an ornamental doily is shortlisted for £25,000 Turner Prize
- US overdose deaths dropped in 2023, the first time since 2018
- Microsoft and Amazon face scrutiny from UK competition watchdog over recent AI deals
- How US changes to 'noncompete' agreements and overtime pay could affect workers
- Former Wisconsin college chancellor fired over porn career is fighting to keep his faculty post
- Siblings trying to make US water polo teams for Paris Olympics
- Pedo school cop shoots himself dead after high
Popular articles
Recommended
Jon Wysocki dead at 53: Staind drummer passes away
Paris will become a no
New Clemson coach Poppie adds former Alabama starting point guard McQueen to his program
With lawsuits in rearview mirror, Disney World government gets back to being boring
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
Catch the slingshot
What it's REALLY like to win the Lottery... by a couple who banked £2.2m
Pakistan and Iran vow to enhance efforts at a 'united front' against Afghanistan
Links
- A trip that'll be frozen in my memory forever: I survived
- US President Joe Biden hits back at special counsel over secret files probe
- Indonesia presidency: Prabowo Subianto on track to win
- I'm a flight expert and THIS premium economy seat by Air France blew me away
- First look: Alton Towers' 50mph Nemesis rollercoaster is unveiled to the public with a brand
- Trump comments on Russia, NATO 'appalling and unhinged'
- First look: Alton Towers' 50mph Nemesis rollercoaster is unveiled to the public with a brand
- The city break that'll bring even the surliest of teens to life: Inside Washington DC
- The world's quirkiest themed cruises revealed, from a nude cruise to a voyage for cat
- I went on a 2,000