Fed’s Powell: Economy Needs To Tighten Up Before Rates Can Rise
Federal Reserve Governor Jerome Powell said on Friday that he wanted to see signs that the U.S. economy was tightening up before before interest rates could be raised. While acknowledging that employment in the United States had rebounded, Powell highlighted “significant” slack, referring to unemployed or underutilised workers. The Fed hopes to end its stimulus programme for the U.S. economy by the end of the year, clearing the way for it to eventually raise interest rates.
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