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FRS Vice Chair: “Further tightening of monetary policy is planned”
FRS Deputy Head Lael Brainard confirmed that the US Central Bank will continue to tighten monetary policy until it sees clear evidence of lower inflation. Also, she warned that the US economy may slow down its growth even more due to higher credit rates.
The FRS has raised credit rates five times this year to decrease inflation, which is still reaching a 40-year-high. However, the FRS wants to reach the target level of 2%.
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