Fed Chairman Powell Indicated that they are ready to raise rates if needed. Swipe for more >>
Fed Chair Powell emphasizes raising rates if required and intends to keep borrowing costs high until inflation is on the desired path of stable 2% inflation targets.
Powell suggests a cautious approach in the September meeting, balancing incoming data and evolving outlook.
Policymakers are moving to the new phase, focused on bringing inflation back to the Fed’s 2% target, after aggressive interest rates in 2022.
Inflation has cooled significantly since reaching a four-decade high last year but remains above the 2% target. PCE index is up 3%, with underlying pressures at a 4.1% pace.