WASHINGTON, April 1 ― The US inflationary picture has worsened since the start of the year, which could prolong the Federal Reserve's ongoing fight against rising prices,...
WASHINGTON, April 1 ― The US inflationary picture has worsened since the start of the year, which could prolong the Federal Reserve's ongoing fight against rising prices, a top Fed official warned yesterday.
The Fed has hiked its benchmark lending rate nine times in quick succession since March 2022 as part of an aggressive attempt to bring historically-high inflation down towards its long term target of two per cent. Data released earlier yesterday showed the Fed's favoured measure of inflation slowed last month, providing some relief as it attempts to balance tackling higher prices with banking concerns.
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