The president of the US Federal Reserve (Fed) said on Friday that the central bank can continue to “raise interest rates if necessary” and maintain “restrictive monetary policy” to keep inflation under control.
“We are ready to raise interest rates even further if necessary and we intend to keep monetary policy at a restrictive level until we are confident that inflation will continue to fall towards our target,” which is 2%, said Powell in the opening speech. of the meeting of the heads of various central banks in Jackson Hole, in the United States.
According to the Fed Chairman, “To bring inflation to 2% sustainably, we need a period of below-trend economic growth and a softening of labor market conditions.”
Source: DN
