Federal Reserve Board member Philip Jefferson suggests that a pause in interest rate hikes may be in store. The bank’s next interest rate decision will come on 14 June. Photo: Ken Cedeno / Pool via AP / NTB
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31. May 2023 20:35 – Updated May 31, 2023 8:35 p.m
Philip Jefferson, who sits on the board of the US central bank, says that waiting with further interest rate jumps will give the bank a better decision-making basis.
– Skipping a rate hike at the upcoming interest rate meeting will allow the committee to get more information before we make decisions on further policy tightening, Jefferson said during a conference call on Thursday.
The central bank has raised interest rates ten times since it began an aggressive campaign to curb inflation. The bank’s preferred inflation target shows that price growth in April was 4.4 per cent from the same month last year. The goal is to keep inflation at 2 percent.
The bank’s decision-makers are divided on the rate ahead of the next interest rate decision on 14 June.
2023-05-31 18:35:22
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