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10/22, 5:29 PM (Source: TeleTrader)
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Powell: No time to raise rates

There should be no interest rate hikes at this time, United States Federal Reserve Chair Jerome Powell noted on Friday.

At the moment, most economic risks are related to "longer" and "more persistent" supply bottlenecks, that result in high inflation, he said during the BIS-SARB Centenary Conference Panel discussion.

He specified that the interest rates should not be changed as supply constraints are directly related to the coronavirus pandemic and "we don't know how long" these and other issues will last.

Breaking the News / MS