The Federal Reserve System (FRS) announced on Wednesday that it will keep interest rates unchanged at a 22-year high for the third meeting in a row.
The FRS has raised rates 11 times since March 2022 to tackle high inflation. FRS officials expect inflation to cool slightly faster than expected next year, according to the latest economic forecasts released on Wednesday.
Some economists say the final leg of the FRS’s historic inflation battle will be the toughest. At a post-meeting press conference, FRS Chairman Jerome Powell reiterated that further rate hikes are still under discussion, reports CNN.
2023-12-14 11:59:57
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