'Inflation Too High For Too Long': US Fed Chair Defends Rate Hike, Rejects Market Influence

US Fed raised interest rates by 25 basis points to 3.75-4.00 percent, citing "elevated" inflation and aiming for a "timelier return" to its two-percent target.

US Federal Reserve Chair Kevin Warsh on Wednesday said that bringing inflation under control is now the central bank’s main focus, hours after the central bank raised interest rates for the first time since 2023.

“Our predominant focus is on the price stability side of our mandate," Warsh told a press conference after the rate decision. “The plain fact is that inflation is too high, and has been for too long."

News18 (English) · 17 Sept, 0:22

Economy, business and finance

'Inflation Too High For Too Long': US Fed Chair Defends Rate Hike, Rejects Market Influence

US Fed raised interest rates by 25 basis points to 3.75-4.00 percent, citing "elevated" inflation and aiming for a "timelier return" to its two-percent target.