Fed chief prepared to raise rates further

August 25, 2023

US inflation has moved down but ‘it remains too high’, says Jerome Powell

US Federal Reserve chairman Jerome Powell gestures as he takes in the view from the lobby of the Jackson Lake Lodge in the Wyoming resort town where the Fed holds its annual economic symposium. (Photo: Reuters)

JACKSON HOLE, Wyoming: The US Federal Reserve is prepared to raise interest rates further if needed and intends to keep them high until inflation is on a convincing path toward its 2% target, chairman Jerome Powell said on Friday.

“Although inflation has moved down from its peak — a…