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Fed Chair Says Interest Rate Could Be Raised Again

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Fed Chairman Jerome Powell said the interest rate could be raised by another 50 basis points.

Powell also said it makes sense to soften the pace of interest rate increases.

Fed Chairman Signals Increase


Powell noted that at the Fed’s last meeting in 2022, there may be one more interest rate increase.

In the last four rate hikes, the Fed had raised rates by 75 basis points. According to Powell, an increase of 50 basis points may be decided this time.Washington D.C.C.Speaking at an event at the Brookings Institution in Washington, Powell said::

“It makes sense to soften the pace of interest rate increases, while reaching a level of restraint sufficient to reduce inflation.
The decision to soften the pace of interest rate increases may come immediately after the December meeting”

Bitcoin recorded an increase of 3.8% after Powell’s statement.

“The final level of interest rates will be slightly higher than was thought at the time of the September meeting”

Tesla CEO Elon Musk also spoke about the Fed’s interest rate increase. Noting that there is a major recession in the economy, Musk asked the Fed to immediately stop interest rate increases.

The leading crypto currency Bitcoin is trading at $ 17,095 at the time of writing.

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