Multiple Federal Reserve policymakers are expecting interest-rate hikes to continue, albeit at a smaller magnitude, as the central bank attempts to rein in inflation, with Patrick Harker, president of the Federal Reserve Bank of Philadelphia, predicting the economy will experience only a “modest” growth in 2023. The Federal Reserve is “absolutely committed” to bringing down inflation…
Fed Policymakers Foresee Need for More Rate Hikes to Control Inflation
January 19, 2023
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Business & Marketseconomic policieseconomic recessioneconomyfed policyFed Rate Hikehigh inflationinflationinterest rate hikesPolicies & ImpactsrecessionUS
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‘I Think I Was Wrong’ and ‘Didn’t Fully Understand’ Inflation: Treasury Secretary Janet Yellen
Treasury Secretary Janet Yellen admitted in an interview with CNN that her past views on how inflation in the United States would progress were faulty. Yellen, along with Federal Reserve officials, had previously insisted that inflation was temporary. However, with inflation now near four-decade highs, many have been forced to change their stance on the…
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