President Of The Fed Foresees An Increase In Interest Rates

Federal Reserve Chairman Jerome Powell said Friday he expects further interest rate increases by the US central bank if the country’s economic growth remains strong.

During the annual conference of the heads of the world’s central banks in Jackson Hole, Wyoming, Powell said the Fed recognizes that the path of inflation, being so uncertain, requires a balance between support for growth and constraints.

Powell added that the phased approach is the most prudent policy for the Fed to try to navigate between the risks of raising rates too quickly, thereby “unnecessarily shortening growth,” and doing it too slowly, thereby you run the risk of an overheated economy.