Fed official expects another rate hike by 2026
A senior official at the U.S. Federal Reserve stated that high inflation and geopolitical developments, such as renewed fighting in the Middle East, prompted the bank to raise interest rates again last week, bringing them up to around 3.9%. The official anticipated that the Federal Reserve would keep interest rates unchanged for the upcoming year, even as pressure remains on inflation, which has not achieved the 2% target for more than five years, although forecasts suggest that inflation may continue to stay above that level.
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