Powell does not rule out raising interest rates in the upcoming meetings

Federal Reserve Chairman Jerome Powell said at a conference of the European Central Bank held in Sintra, Portugal: “We have come a long way with rising interest rates, noting that the delay in raising the interest rate earlier this month was tantamount to A step for evaluation.” The Chairman added, “I will not, as you know, take the move in successive meetings away from the table at all, noting that the Committee clearly believes that there is more work to be done and that there are more price hikes that are likely to be appropriate.” He explained Powell said that efforts to return inflation to the target will take a long time, stressing, “I do not see that we are going back to 2% this year or next year, and when that happens, it will probably be in 2025.” He explained that future policy measures will be driven by how the economy is performing, noting that the only thing we have decided is not to raise rates at the June meeting