MADRID: Federal Reserve chair Jerome Powell said at least two interest-rate increases are likely necessary this year to bring the inflation rate down to the US central bank’s 2% target and that acting at consecutive policy meetings isn’t “off the table.”
“A strong majority of committee participants expect that it will be appropriate to raise interest rates two or more times by the end of the year,” Powell said Thursday, referencing the policy-setting Federal Open Market Committee. “Inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go.”
