6 Hrs
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البلاد
Fed Seeks Lower Inflation
John Williams, president of the Federal Reserve Bank of New York, said the Fed may need to raise interest rates further to bring inflation down to its 2% target, citing the strength of the economy, the resilience of the labor market, and persistent inflation. Markets expect the target range, currently 3.75% to 4%, to rise by a quarter of a percentage point at the December meeting, followed by another increase in January, though Williams did not specify the timing or size of the hikes. He added that the Fed cannot undo the effects of past inflation on the cost of living, but is focused on keeping inflation low going forward.
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