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Fed Chair: Inflation Remains Elevated
The Federal Reserve has raised its key interest rate by a quarter of a percentage point, bringing it to a range between 3.75% and 4%, with indications of a possible additional increase before the end of the year due to ongoing high inflation and deteriorating indicators. This decision was made after assessing that the economy remains strong and the labor market is active, with inflation continuing to rise significantly since summer. The Federal Reserve emphasized its focus on price stability and achieving full employment. Chairman Kevin Warsh explained that the decision was based on a careful evaluation of the economic situation, noting that inflation remains very high and that further tightening is needed to bring it down.
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