Fed expects interest rates to stay high 'for some time'

By Agence France-Presse

Nov 23, 2023 12:40 am

WASHINGTON, D.C.: All members of the US Federal Reserve's (Fed) powerful rate-setting committee judged earlier this month that it would be appropriate to keep interest rates high 'for some time' in order to tackle inflation, minutes of the meeting released Tuesday show.

On November 1, the Fed announced it was holding interest rates at a 22-year high for a second straight meeting as it looked to bring inflation firmly down to its long-term target of two percent without damaging the strong economy.

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