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10/7, 4:18 PM (Source: TeleTrader)
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Fed's Williams: Rates should be raised up to 4.5%

Federal Reserve Bank of New York President John Williams said on Friday that the United States central bank needs to continue hiking interest rates and, over time, bring them to around 4.5%.

Williams stressed that inflation in the country is "very high" and the Fed is "far from where it needs to be." However, he remained confident that inflation will fall "significantly" in 2023 and the US economy will see positive growth.

Still, the central banker warned that unemployment is expected to rise next year.

Baha Breaking News (BBN) / NP