WASHINGTON: The US Federal Reserve's high benchmark rate is "doing its job" against elevated inflation, chairman Jerome Powell said Wednesday, warning that lowering it too soon could be "quite disruptive" for the American economy.
The US central bank has held interest rates at a 23-year high of between 5.25 and 5.50 percent as it seeks to bring inflation firmly down to its long-term target of two percent.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.