Fed Officials Suggest Interest Rates May Stay High to Combat Persistent Inflation Several Federal Reserve officials have indicated that the aggressive interest rate hikes over the past two years might need more time to effectively reduce inflation, hinting at the possibility of maintaining or even increasing rates rather than cutting them this year. Despite sharp increases, higher borrowing costs have not significantly impacted American spending habits or cooled inflation as expected. This observation suggests that current interest rates may not sufficiently restrain economic activity or inflationary pressures, possibly requiring rates to remain elevated for an extended period. Fed Chair Jerome Powell also expressed the need for further observation to ensure inflation approaches the target, leaving the door open for continued high rates. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Jobs Data Shows Jobs Decreased for Second Month in a Row READ MORE Safe-Haven Appeal Drives Gold Over $2,400 READ MORE Dollar Gains as Market Awaits Fed Minutes; Pound Steady on Inflation Data READ MORE Gold Prices Climb as Market Awaits Fed's Inflation Decisons READ MORE Japan Raises Interest Rates for First Time in 17 Years READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment