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Added on the 25/08/2023 16:24:42 - Copyright : AFPTV - First images
The US Federal Reserve voted to pause its aggressive campaign of interest rate hikes despite "elevated" inflation, while indicating a sharp increase could be needed before the end of the year, the chairman of the central bank Jerome Powell announces during a press conference in Washington, DC. SOUNDBITE
Taming high US inflation will be painful for American families and businesses, but failure to act would be even more harmful, Federal Reserve Chair Jerome Powell says Friday. SOUNDBITE
Federal Reserve Chair Jerome Powell announces a raise of the benchmark interest rate by three-quarters of a percentage point, adding that the Fed expects ongoing rate increases "will be appropriate." It is the second straight 75 basis point increase, and the fourth rate hike this year. SOUNDBITE
Supply bottlenecks and a shortage of workers could put pressure on US prices for longer than expected, Federal Reserve Chair Jerome Powell says. "As the reopening continues, bottlenecks, hiring difficulties and other constraints can prove to be greater and longer-lasting than anticipated," Powell tells reporters following the central bank's two-day policy meeting. SOUNDBITE
Inflation could rise higher and stay there longer than expected as the US economy recovers from the downturn caused by the Covid-19 pandemic, Federal Reserve Chair Jerome Powell says. He notes that inflation is well above the Fed's two percent goal, mostly due to temporary factors including supply bottlenecks. SOUNDBITE
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