Fed pauses but signals more tightening ahead

By Agence France-Presse

Jun 16, 2023 12:29 am

THE US Federal Reserve (Fed) voted Wednesday, US time, to pause its aggressive campaign of interest rate hikes despite 'elevated' inflation, while indicating a sharp increase could be needed before the end of the year.

'It allows the economy a little more time to adapt as we make our decisions going forward,' Fed Chairman Jerome Powell said in a press conference after the decision was announced.

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