Powell: The US Central Bank may need to raise interest rates further to ensure that inflation is contained

Federal Reserve Chairman Jerome Powell said that the US central bank may need to raise interest rates further to ensure that inflation, which is still very high, is contained.

"We will tread carefully when deciding whether to further tighten monetary policy or instead hold interest rates steady and wait for more data," Powell said in a keynote address at the Jackson Hole Economic Policy Symposium.

"We are prepared to raise interest rates further if appropriate and intend to keep policy at a constrained level until we are confident that inflation is moving sustainably toward our target," Powell said, adding that the economy continues to grow above trend and if that continues, it could offer further advances in inflation. risk and could call for further tightening of monetary policy.

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