Governor Michelle Bowman has said the US Federal Reserve will continue tightening monetary policy by raising key interest rates even though there has been a decline in consumer inflation, a report by theprint has said.
Speaking recently at the Florida Bankers Association Leadership luncheon, in Miami, Florida, Bowan, said, “In recent months, we’ve seen a decline in some measures of inflation but we have a lot more work to do, so I expect the FOMC will continue raising interest rates to tighten monetary policy, as we stated after our December meeting,”
“My views on the appropriate size of future rate increases and on the ultimate level of the federal funds rate will continue to be guided by the incoming data and its implications for the outlook for inflation and economic activity.” The US Federal Reserve in its latest monetary policy meeting raised interest rates by 50 basis points .
The US central bank’s policy rate is now in a target range of 4.25-4.50 per cent, the highest level in 15 years, and notably, it was near zero in the early part of 2022. Prior to the recent 50 basis points hike, there has been a fourth consecutive hike of 75 basis points magnitude.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
I will always defend Yoruba interest– Gani AdamsThe Aare Ona Kakanfo of Yorubaland, Gani Adams, has said he will continue to defend the interest of the Yoruba people and Nigeria as a whole, using his position in any little way possible.
Read more »
FDC Predicts Hike in Interest Rate at Next Week’s MPC – THISDAYLIVE
Read more »
PDP, APC trade words over Uzodimma’s performance as Imo governorGovernor Uzodimma assumed office on 14 January 2020, following a judgment of the Supreme Court which affirmed his victory at the 2019 governorship election.
Read more »
Naira weakens at official marketNaira depreciated against the U.S dollar by 0.16 per cent on Friday
Read more »
Osun Election Tribunal Concludes Governor Adeleke, Oyetola’s Case, Adjourns For Judgement | Sahara ReportersThe election petition tribunal sitting in Osun State has adjourned for judgment on the governorship election petition before it after counsel to the parties adopted their final addresses. It was reported that the chairman of the tribunal, Tertsea Kume, on Friday said the adjournment date would be communicated to the parties. Recall that the All Progressives Congress (APC) and its candidate in the election who is the former governor of the state, Gboyega Oyetola, are challenging the victory of Ademola Adeleke of the Peoples Democratic Party (PDP).
Read more »
Gombe Governor Pledges Continued Assistance To Legion, Families Of Fallen HeroesGombe State governor, Muhammadu Inuwa Yahaya, has launched the 2022/23 Armed Forces Remembrance Day emblem appeal fund. While performing the ceremony, the
Read more »