it looked like we d need to raise rates over the course of the year more than we d expected at the time of the scp in december, at the time of the december meeting. we are committed to restoring price stability, and all of the evidence says that the public has confidence that we will do so. his comments underscore the dilemma facing policymakers how to fight inflation, while simultaneously restoring financial stability. still, the fed signalled that turmoil in the banking sector might end its rate rise campaign sooner than had seemed possible just a few weeks ago. so, does that mean a soft landing is off the table, where the economy slows down just enough to bring down prices, without causing a recession? fed chairjay powell said it was too early to say. anthony cheung is director of amplifyme and joins me now. to what extent does what s going on in the states impact the decision on interest rates elsewhere in the world?
even as it warned that the sector s troubles could drag down economic growth. america s central bank raised its federal funds rate, which affects many consumer and business loans, to a range 4.5 and 5%. jay powell said policymakers did consider a pause in the interest rate hiking campaign, in light of the banking turmoil, but the consensus for an increase was stronger. before the recent events, we were clearly before the recent events, we were clearly on before the recent events, we were clearly on track to continue with ongoing clearly on track to continue with ongoing rate hikes. in fact, as of a couple ongoing rate hikes. in fact, as of a couple of ongoing rate hikes. in fact, as of a couple of weeks ago, it looks like we would couple of weeks ago, it looks like we would need to raise rates over the course we would need to raise rates over the course of the year more than we had expected at the time in december, at the time of the december, at the time of the december m
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