'We anticipate that ongoing increases will be appropriate,' Federal Reserve Chair Jerome Powell said Wednesday.
The Federal Reserve on Wednesday, for the third consecutive time since June, increased interest rates by three-quarters of a percentage point to combat inflation.in 14 years—is part of the Fed's commitment to reduce inflation to 2 percent.and said that without it,"the economy does not work for anyone."
U.S. Federal Reserve Board Chair Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee at the headquarters of the Federal Reserve on September 21, 2022, in Washington, D.C. Powell announced on Wednesday that the Federal Reserve is raising interest rates by three-quarters of a percentage point.reported that in August, the annual inflation rate in the U.S. eased for the second straight month to 8.3 percent, the lowest since April.
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