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Fed Chair Powell on Interest Rate Hike: "We still have some ways to go."
Posted
November 2, 2022
Views
3,019
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November 2, 2022
3,019
56
35
3.01%
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6:57Now PlayingFed Chair Powell: "Today, the FOMC raised our policy interest rate by 75 basis points and we continue to anticipate that ongoing increases will be appropriate...Restoring price stability will likely require maintaining a restrictive stance of policy for some time." He added that the U.S. economy has slowed significantly from last year's rapid pace and "at some point...it will become appropriate to slow the pace of increases...We still have some ways to go and incoming data since our last meeting suggests that the ultimate level of interest rates will be higher than previously expected."
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