Fed raises interest rates by half point as it signals borrowing costs will head higher next year
Chair Jerome Powell said ‘we still have some ways to go’ after the FOMC raised its benchmark rate to a 4.25% to 4.5% target range.
Chair Jerome Powell said the Federal Reserve is not close to ending its anti-inflation campaign of interest-rate increases as officials signaled borrowing costs will head higher than investors expect next year.
“We still have some ways to go,” he told a press conference on Wednesday in Washin
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