Fed chief says inflation fight may be 'longer than expected'

By Agence France-Presse

Apr 18, 2024 12:33 am

WASHINGTON: The US Federal Reserve's (Fed) ongoing fight against inflation could take 'longer than expected,' the head of the US central bank said Tuesday, further paring back the chances of early rate cuts.

The Fed has been battling rising prices with interest rate hikes since 2022, lifting its key lending rate to a 23-year high as it looks to hit its long-term inflation target of 2 percent.

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