Fed Holds Rates Steady; Chairman Warsh Signals Growing Support for 2023 Rate Hikes
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Enda Curran, Catarina Saraiva
11h ago· 1 min readenNews
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Summary
Federal Reserve Chairman Kevin Warsh, in his first press conference since taking office, stated that the Fed left interest rates unchanged but signaled growing support for rate hikes this year. Warsh emphasized the committee's unanimous commitment to restoring price stability, acknowledging that persistent high prices burden Americans but asserting that the recent inflationary period need not continue.
Key quotes
· 2 pulledPersistently high prices are a burden for the American people, but the recent past need not be prologue.
Officials 'are unambiguous and unanimous. This committee will deliver price stability.'
Federal Reserve Chairman Kevin Warsh vowed to restore price stability following his first policy meeting since taking the helm of the US central bank, after officials left interest rates unchanged and signaled growing support for rate hikes this year.
