NEW YORK (ICIS)–Take US Federal Reserve chair
Jerome Powell at his word – that the Fed will
keep raising interest rates “until the job is
done” in tamping down inflation.
The latest jumbo hike of 0.75 percentage point
at the September meeting was further evidence
of that commitment – “ongoing increases…will be
appropriate” – and there is likely more to
come.
The hike brings the benchmark Federal Funds
rate to 3.00-3.25%. The median projection by
Fed members is now for the key rate hitting
4.40% by December.
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