'Careful' approach urged for rate cuts

By Agence France-Presse

Feb 16, 2024 12:20 am

WASHINGTON D.C: The US Federal Reserve should be careful about the timing of interest rate cuts, a senior bank official said Wednesday, adding to the cautious tone taken by central bank officials in recent months about moving too quickly.

The Fed swiftly raised and then held its benchmark lending rate in a largely successful bid to bring inflation down from multi-decade highs toward its long-term target of 2 percent.

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