US Fed signals further rate hikes
The news article focused on remarks by Federal Reserve Chair Kevin Warsh, in which he indicated that the central bank may raise U.S. interest rates from the current range of 3.5% to 3.75% if inflation does not improve quickly enough, aiming to stabilize prices after inflation rates remained above the 2% target for 65 months. The statements increased the likelihood of a rate hike at the September meeting to 60%, leading to a rise in short-term Treasury yields and the dollar. Warsh confirmed that the Personal Consumption Expenditures (PCE) inflation index recorded an annual rate of 3.7% in July and that inflation is still far from the target, considering the economic situation resilient enough to withstand further monetary policy tightening.
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