US Fed official signals support for rate pause

By Agence France-Presse

Sep 07, 2023 12:34 am

WASHINGTON, D.C.: A senior US Federal Reserve (Fed) official said Tuesday that the US central bank can afford to sit tight for now, while not ruling out another rate hike down the line to tackle inflation.

The Fed has raised interest rates 11 times since March last year to control runaway inflation, raising its key lending rate in July to its highest level for 22 years.

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