The US Fed chair says future rate hikes will be data-driven, with the size determined from meeting to meeting
23 June 2022 – 11:27
The JSE was down on Thursday morning, tracking weaker European peers after the Federal Reserve chair Jerome Powell acknowledged that steep interest-rate hikes could tip the US economy into recession.
In his opening remarks before the Senate banking committee on Wednesday, Powell said that officials “anticipate that ongoing rate increases will be appropriate” to cool the hottest price pressures in 40 years. He, however, acknowledged a soft landing would prove “very challenging”. ..