US rates to remain high 'for some time'

By Agence France-Presse

Jan 21, 2023 12:24 am

Washington: US interest rates will need to remain high for some time even as inflation eases, Federal Reserve Vice Chair Lael Brainard said Thursday, adding that the central bank plans to 'stay the course' in fighting price increases.

Inflation has come down from a 40-year high as the Fed hiked rates steeply over the last year to cool the world's biggest economy, and officials have warned against loosening policy prematurely.

Federal Reserve Vice Chair Lael Brainard. AFP Photo

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