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Added on the 11/10/2018 03:01:37 - Copyright : AFPTV - First images
The US Federal Reserve voted to pause its aggressive campaign of interest rate hikes despite "elevated" inflation, while indicating a sharp increase could be needed before the end of the year, the chairman of the central bank Jerome Powell announces during a press conference in Washington, DC. SOUNDBITE
"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE
US Fed Chair Jerome Powell says "in determining the extent to which additional policy may be appropriate to return inflation to two percent over time, the committee will take into account" the impact of existing interest rate hikes. SOUNDBITE
The Federal Reserve announces the most aggressive interest rate increase in nearly 30 years, raising the benchmark borrowing rate by 0.75 percentage points as it battles against surging inflation. SOUNDBITE
Former Democratic presidential candidate Pete Buttigieg lashed out at the eldest son of President Donald Trump on Friday. On Thursday, Donald Trump Jr. falsely minimized the deaths related to coronavirus, telling Fox News the Trump administration had the pandemic under control. Cases and deaths from the novel coronavirus in the US are rising rapidly. The US broke its single-day coronavirus case record last week with over 88,000 new COVID-19 cases in a single day, in addition to over 1,000 deaths. Business Insider reports Buttigieg criticized Trump Jr. for being 'out of touch' when he said US coronavirus deaths are down to 'almost nothing.' Tell that to any of the Americans who are confronting what is literally the worst mass casualty event in this country since World War II. Pete Buttigieg
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