Powell: Cutting too soon could be 'quite disruptive'

By Agence France-Presse

Apr 05, 2024 12:33 am

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.

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