Powell signals more hikes ahead if US economy stays strong
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August 24, 2018
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell signaled Friday that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong.
Powell added that while annual inflation has risen to near the Fed's 2 percent target rate, it doesn't seem likely to accelerate above that point. That suggests that he doesn't foresee a need for the Fed to step up its rate hikes. Next month, the Fed is widely expected to resume raising rates.
Speaking to an annual conference of central bankers in Jackson Hole, Wyoming, Powell said the Fed recognizes the nee...
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