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Federal Reserve Chair Powell says the Fed needs to raise rates higher
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Federal Reserve Chair Jerome Powell told U.S. lawmakers that interest rates are likely going higher than expected, and the central bank is prepared to revert back to bigger rate hikes.
"The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated," Powell testified before the Senate Banking Committee.
Powell was also grilled on the U.S. dollar, debt levels, the crypto market, and stubborn inflation.
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Kitco NEWS is a global news network based in Montreal, with bureaus in New York, Hong Kong, New Mexico, London and Vancouver. Since 2009, our journalists have helped investors make informed decisions through in-depth reporting, daily market updates, and interviews with key industry figures. We aim to accurately and impartially cover the economy, stock markets, commodities, cryptocurrencies, mining and metals.
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Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
"The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated," Powell testified before the Senate Banking Committee.
Powell was also grilled on the U.S. dollar, debt levels, the crypto market, and stubborn inflation.
__________________________________________________________________
Kitco NEWS is a global news network based in Montreal, with bureaus in New York, Hong Kong, New Mexico, London and Vancouver. Since 2009, our journalists have helped investors make informed decisions through in-depth reporting, daily market updates, and interviews with key industry figures. We aim to accurately and impartially cover the economy, stock markets, commodities, cryptocurrencies, mining and metals.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
Follow us on social media:
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
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