United States Economy – Page 69

Fed Chair Sees ‘Long Way to Go’ on Inflation Fight

Jerome H. Powell, the chair of the Federal Reserve, is set to tell House lawmakers that most central bank officials expect rates to rise further.

Inflation has come down from its 2022 heights, but economists are worried about its stubbornness.

While the world’s eyes were on the pandemic, the war in Ukraine and China, the paths to prosperity and shared interests have grown murkier.

The milestone follows a recent congressional showdown over lifting the debt ceiling. Another spending fight looms this year.

Central bankers have lifted rates at the fastest pace since the 1980s, but now they’re taking time to survey how the changes are working.