IBT Staff Reporter

15571-15600 (out of 154954)

Fed Prepared To Raise Interest Rates 'Aggressively:' Powell

Consumer prices in the world's largest economy have surged to the highest seen in four decades, and the Fed last week raised the benchmark lending rate for the first time since the Covid-19 pandemic began to try to tamp down inflation pressures.

Fed Will Raise Rates More Aggressively If Needed, Powell Says

Federal Reserve Chair Jerome Powell on Monday delivered his most muscular message to date on his battle with too-high inflation, saying the central bank must move "expeditiously" to raise rates and possibly "more aggressively" to keep an upward price spiral from getting entrenched.

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