Central bank likely to double rate at which it cuts spending on government bonds, in shift that could herald interest rate rises
The US Federal Reserve is expected to accelerate an end to the central bank’s pandemic-era support of the US economy on Wednesday night, in a major shift that could herald a series of interest rate rises next year.
The expected measures are a signal that US central bankers no longer view rising inflation as a “transitory” nuisance caused by supply chain problems meeting pent-up consumer demand, but an issue that now requires firm management to avert lasting damage to the US economy.
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