New York Federal Reserve Chairman John Williams explained that the key interest rate in the United States is currently at or near its peak level. But he pointed out the need for borrowing costs to remain high for some time, in order to ensure that inflation is overcome.
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Monday, October 2, 2023
The Fed reveals a strong recognition on interest rates
“My current assessment is that we are at or near the peak level of the target range for the federal funds rate, and I expect that we will need to maintain a restrictive monetary policy stance for some time,” Williams said on Friday in remarks prepared for an event on Long Island, New York.
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