Federal Reserve to Keep Hiking Interest Rates as US Economy Not Cooling — Chairman Powell

WASHINGTON (Sputnik) – The Federal Reserve will keep raising interest rates as long as it is needed to bring inflation back to its long-term target of 2% per year given that the US economy is not cooling as was initially thought, Chairman Jerome Powell said on Friday. “It is the Fed’s job to bring inflation down to our 2% goal, and we will do so,” Powell stressed, opening the US central bank’s annual symposium in Jackson Hole, Wyoming. The symposium is said to be one of the most-watched events for...