2024-07-09 11:49:20
The United States Federal Reserve The Fed has made “a lot of progress” in its fight against rising prices and could reach its inflation target next year, the president of the Fed, Jerome Powell.
The Fed, the bank US Centralhas raised interest rates to 23-year highs in an attempt to tighten monetary policy enough to bring inflation back to its long-term target. 2% termwithout impacting too much on the working market nor to the economy in general.
Since it began raising rates in 2022, the Federal Reserve inflation has come back down from multi-decade highs to an annual rate of 2.6% in May, while the growth has remained positive and the unemployment rate has remained at near-record lows.
“We have made enough progress to bring the inflation back to our goal, while the labor market has remained strong and growth has continued,” Powell said at an event in Sintra, Portugal, with his counterparts from the European Central Bank (BCE), Christine Largarde, and of the Bank of Brazil, Roberto Campos Netoand was broadcast online.
“We want that process to continue,” Powell said, adding that it is possible that the Federal Reserve reach its 2% target “perhaps by the end of next year” or in 2026.
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2024-07-09 11:49:20