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and driving hands free around the streets of london, we take a look at the driverless car that may be a gamechanger. let s now get down to business. let s start in the us, where it looks like interest rates will be headed higher and higher. speaking to a senate committee the chair of the federal reserve, jerome powell warned more action might be needed to stabilise prices and tame inflation. many analysts had been expecting another quarter percent rise when the fed meets later this month, but now some are predicting an ever bigger increase. investors didn t like the news, as you can see it sent us financial markets tumbling. the dow, nasdaq and s&p 500 all saw a sell off after powell s comments. our north america business correspondent samira hussain reports from new york. last year, the federal reserve raised interest rates at the fastest rate since the 1980s and it seemed to have helped inflation a little but the labour market remains resilient. the lastjob through sp ....
that s the warning vfrom the head of america s central bank, the federal reserve. jerome powell warned more action might be needed to stabilise prices and keep inflation in check. many had been expecting another quarter percent rise in interst rates when the fed meets later this month, but after those comments, there are predictions that the rise could be even bigger. that s been enough to spook investors. it sent us financial markets tumbling. the dow, nasdaq and s&p 500 all saw a sell off after powell s comments. similar story in asia with hong kong s hang seng. and here s our north america business correspondent samira hussain to explain what it all means. last year, the federal reserve raised interest rates at the fastest rate since the 1980s, and it seemed to have helped inflation a little. but that labour market, it remains resilient. the lastjobs report showed a blockbuster increase of more than 500,000 jobs added injanuary. that s why the fed chair, jerome powel ....
Correspondent samira hussain reports from new york. last year, the federal reserve raised interest rates at the fastest rate since the 1980s and it seemed to have helped inflation a little but the labour market remains resilient. the lastjob through sport showed a blockbuster increase of more than 500,000 jobs added injanuary. that is why the feta chatjerome powell basically said you can probably expect faster rates because our trying to call the economy down. . , ., . ., ., down. the latest economic data has coming down. the latest economic data has coming than down. the latest economic data has coming than expected - down. the latest economic data | has coming than expected which suggest it will likely be higher than previously anticipated. if a totality of the data were to indicate faster tightening is warranted, we will be prepared to increase the rates of rate hikes. no-one seemed to the rates of rate hikes. no-one seemed to like the rates of rate hikes. no-one seemed to l ....
But that labour market, it remains resilient. the lastjobs report showed a blockbuster increase of more than 500,000 jobs added injanuary. that s why the fed chair, jerome powell, basically said you can probably expect faster rate increases because we are trying to cool the economy down. the latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to to be higher than previously anticipated. if the totality of the data were to indicate that faster tightening is warranted, we d be prepared to increase the pace of rate hikes. now, no one seemed to like that message. financial markets tumbled and us lawmakers took the head of the central bank to task. mr powell faced dogged questions from all sides about what raising rates most likely entails putting more people out of work. now, all of this puts friday sjobs report and next week s inflation ....