WASHINGTON: The Federal Reserve (Fed) is on track to tackle US inflation without pushing the country into a damaging recession, a senior official on t...
The Federal Reserve has slowed down the pace of its interest rate increases, citing a need to be data-dependent. – AFPpicThe Federal Reserve is on track to tackle US inflation without pushing the country into a damaging recession, a senior official on the bank’s rate-setting committee said on Tuesday .
“We feel like we’re on track for a soft landing,” Minneapolis Fed president Neel Kashkari told a conference in North Dakota, using a popular term to describe tackling inflation while avoiding a recession. Yields on the 10-year US Treasury recently rose to a 16-year high as traders raised their expectations that interest rates will have to remain higher for longer to bring inflation down.
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