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International Business Times
International Business Times
Business
Daniel AVIS

US Fed Chair Jerome Powell Calls Rate Cut Speculation 'Premature'

Jerome Powell US Federal Reserve United States Inflation Austan Goolsbee Interest Rates
The Fed recently held its benchmark lending rate at a 22-year high (Credit: AFP)

It is still "premature" to speculate on when the US Federal Reserve will start cutting interest rates despite the bank's recent progress on inflation, Fed Chair Jerome Powell said Friday.

The US Federal Reserve has taken aggressive action to tackle runaway inflation, and has successfully slowed the rate at which prices have been increasing this year.

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