6/8, 5:25 PM (Source: TeleTrader)
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IMF: Fed may raise interest rates for longer

The International Monetary Fund (IMF) said Thursday that if inflation proves to be more protracted than initially expected, the Federal Reserve may be forced to raise interest rates further.

According to the latest update of its global economic outlook, the institution also urged central banks to continue tightening their respective monetary policies to keep inflation contained.

On the other hand, the IMF noted that inflation is slowing in the US, although it remains a pressing concern. The next update on the global economic outlook is scheduled for July 25.

Baha Breaking News (BBN) / JG