Federal Reserve Chair Powell Reaffirms Expectation of Further Rate Hikes Amid Persistent High Inflation

Money MattersInflationLeases & Loans
Written By Jennifer Joslyn

Federal Reserve Chair Jerome Powell reaffirmed the likelihood of raising interest rates at least once more this year due to persistent inflation in the service sector and a tight job market. Despite noting a moderation in inflation since last year, Powell emphasized that inflation pressures remain high. The Fed's policymakers expect further rate hikes by the end of the year, aiming to curb inflationary pressures, although concerns were raised by senators regarding potentially increasing capital requirements for banks.

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Jennifer Joslyn
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