WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will ...
and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
Last month, Fed officials predicted that they would impose one more interest rate hike before the end of the year, on top of a series of 11 rate increases that have lifted their key rate to about 5.4%, its highest level in 22 years. Economists and Wall Street traders expect the central bank to leave rates unchanged when it next meets in about two weeks.
“Additional evidence of persistently above-trend growth, or that tightness in the labor market is no longer easing," Powell said, “could put further progress on inflation at risk and could warrant further tightening of monetary policy.” There was a feisty back-and-forth at Trump's New York fraud trial, with accusations of perjury, witness intimidation, and playing to the press.Jonathan Ernst/ReutersSpecial counsel Jack Smith has withdrawn a subpoena seeking records from Save America, the political action committee aligned with former President Donald Trump, The Washington Post reported late Tuesday.
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