Arrying The Target Range For Federal Funds Rate To 3 00 Percent 25 Quot We Are Moving Our Policy Stance Purposefully Toa Level That Will Be Sufficiently Restrictive Return Inflation 2 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

ANKARA The Federal Reserve Chair Jerome Powell said Wednesday that reducing the record-high inflation in the United States will require a below-trend growth in the American economy for some time. "Reducing inflation is likely to require a sustained period of below-trend (economic) growth, and it will very likely be some softening of labor market conditions," Powell told a news conference after the conclusion of its two-day meeting. The Fed, in its much-anticipated meeting, raised its benchmark interest rate by 75 basis points for the third consecutive time to fight record inflation, carrying the target range for the federal funds rate to the 3.00 percent to 3.25 percent range. "We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%," Powell said. He said price stability serves as the bedrock of the American economy, adding "Without price stability, the economy does not work for anyone." Pow ....

United States , Turkey General , Jerome Powell , Market Committee , Federal Reserve , Federal Reserve Chair Jerome Powell , Federal Open Market Committee , Jackson Hole , Ankara The Federal Reserve Chair Jerome Powell Said Wednesday That Reducing Record High Inflation In United States Will Requirea Below Trend Growth American Economy For Some Time Quot Is Likely To Sustained Period Of Economic , Nd It Will Very Likely Be Some Softening Of Labor Market Conditions , Uot Powell Tolda News Conference After The Conclusion Of Its Two Day Meeting Fed , N Its Much Anticipated Meeting , Aised Its Benchmark Interest Rate By 75 Basis Points For The Third Consecutive Time To Fight Record Inflation , Arrying The Target Range For Federal Funds Rate To 3 00 Percent 25 Quot We Are Moving Our Policy Stance Purposefully Toa Level That Will Be Sufficiently Restrictive Return Inflation 2 , Uot Powell Said He Price Stability Serves As The Bedrock Of American Economy , Dding Quot Without Price Stability , He Economy Does Not Work For Anyone Quot Powell Said The Federal Open Market Committee Fomc Members Are Acutely Aware That High Inflation Imposes Significant Hardship As It Erodes Purchasing Power Will Be Looking Compelling Evidence Over Coming Months Is Moving Down And Returning To 2 Percent , Nd Added That The Pace Of Interest Rate Increases Will Depend On Incoming Macroeconomic Data Powell , Gain Signaled That The Fed Could Puta Break On Rate Hikes Quot At Some Point , S The Stance Of Monetary Policy Tightens Further , T Will Become Appropriate To Slow The Pace Of Increases While We Assess How Our Cumulative Policy Adjustments Are Affecting Economy And Inflation Quot Powell Reiterated That Fed Continue Rate Hikes Until Job Is Done As He Referred Lowering , Nd Echoed His Comments During The Jackson Hole Symposium Held At End Of August 39 Failure To Restore Price Stability Would Mean Far Greater Pain Powell Said Median For Year Projections Suggest Another 125 Basis Points , R 100 Basis Points , F Rate Increases , Ut Noted That The Fomc Did Not Vote On Decision At This Meeting Quot Chances Ofa Soft Landing Are Likely To Diminish Extent Policy Needs Be More Restrictive , Uot Powell Said ,