Fed Meeting Update: Interest Rates Will Stay High Until Inflation Cools
After the Fed raised interest rates 11 times between March 2022 and July 2023, inflation initially responded, falling from its high of 9.1% in June 2022 to 3% one year later. But inflation has crept back closer to 4%, above the Fed’s target rate of 2%.
I’m Chris Anstey, a senior editor in Boston, and today we’re looking at Fed Chair Powell’s latest signal on interest rates.
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