US Federal Reserve Bank President Jerome Powell has announced that he will continue to pursue a policy of raising interest rates following criticism from US President Donald Trump. Yes Interest rates are still low according to historical standards, said Pow Powell at a conference in New York, where he noted that gradual rate increases were uncertain and might require a year or more to see them.
"COUNTRY ECONOMY WILL GROW"
"I and the Federal Open Market Committee (FOMC) predict the country's economy will grow consistently," Powell said. Financial weakness is at a moderate level. Financial stability is now more important for monetary policy. Very fast at risk "found in the assessment.
"As always, our monetary policy decisions will be designed to safeguard the economy in the way Pow, Powel concluded.
The Federal Reserve Bank has increased interest rates three times this year. After Powell's statement, interest rates are expected to increase again in December.
Following the speech of Fed President Powell, the Dow Jones index increased by almost 500 points. At midday, the market immediately responded to Powell's message, saying there would be a slight increase in interest rates. (IHA)