Federal Reserve Chairman Jerome Powell on Friday defended the U.S. central bank’s push to raise interest rates as healthy for the economy and signaled more hikes were coming despite President Donald Trump’s criticism of higher borrowing costs. The Fed, which began to tighten monetary policy in 2015, has raised rates twice this year and is expected to do so again next month and perhaps once more before the end of the year. Powell’s comments were not a direct response to Trump’s criticism that he is “not thrilled” with the Fed for raising rates as the Trump administration tries …read more
Source:: Yahoo Finance
