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Added on the 28/11/2018 18:36:19 - Copyright : AFPTV - First images
The US Federal Reserve has voted to hold interest rates at a 22-year high for a second straight meeting. "Today we decided to leave our policy interest rate unchanged," announces Fed chair Jerome Powell. SOUNDBITE
US interest rates will likely peak at a higher level than was previously anticipated due to January data that came in stronger than recent trends expected, Federal Reserve Chair Jerome Powell tells a US Senate hearing, saying, "if the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes." SOUNDBITE
Inflation could rise higher and stay there longer than expected as the US economy recovers from the downturn caused by the Covid-19 pandemic, Federal Reserve Chair Jerome Powell says. He notes that inflation is well above the Fed's two percent goal, mostly due to temporary factors including supply bottlenecks. SOUNDBITE
Fed Chair Jay Powell warned on Tuesday that the US economy would suffer if another stimulus package isn't passed, which remains stalled in Congress. House Democrats passed a $2.2 trillion stimulus plan earlier this month, but Sen. Majority Leader Mitch McConnell (R-Ky.) called the amount 'outlandish.' Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses. Jay Powell Chair, US Federal Reserve But according to Business Insider, White House economic advisor Larry Kudlow said Sunday that he doesn't agree with that assessment. We are in a strong rebound. Businesses are reopening. We are learning to deal with the virus in a targeted, safe, prevented way. White House Economic Adviser Larry Kudlow Interview, CNN's 'State of the Union'
Chair of the Federal Reserve Jerome Powell announces in a press conference that the Federal Reserve 'expect it would be appropriate to maintain the current 0 to 0.25 percent target range for the Federal funds rate' until maximum employment goal hit. SOUNDBITE
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