Fed mulls hiking interest rate soon

By Agence France-Presse

Dec 02, 2021 12:09 am

LOUISIANA: The wave of price increases that has complicated the US pandemic recovery could last longer than anticipated, Federal Reserve Chairman Jerome Powell acknowledged on Tuesday (Wednesday in Manila), opening the door to raising interest rates sooner.

It was a distinct shift by the central bank chief who, for months, tried to assuage fears by saying the inflation spike would be 'transitory' and pledged to be patient before raising interest rates.

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