Powell: Fed Could Keep Lifting Rates Sharply 'For Some Time'

The Federal Reserve plans to continue raising interest rates sharply in the coming months to control high inflation. Fed Chair Powell announced this at the Jackson Hole Economic Symposium, indicating that rates will remain high for some time. The Fed has already increased rates four times this year, with the last two hikes being 0.75 points each. Another meeting is scheduled for September to discuss further actions.

What is the Federal Reserve's plan regarding interest rates in the coming months?

• To decrease them gradually

• To maintain them at current levels

• To raise them sharply

• To eliminate them entirely

Where did Powell make his comments about the interest rate hikes?

• At the Jackson Hole Economic Symposium

• At the White House

• During a press conference in New York

• At a meeting in Washington D.C.

Why does Powell expect interest rates to remain high for some time?

• To boost economic growth

• To control inflation

• To increase employment

• To stabilize the stock market

How many times has the Fed raised interest rates this year?

• Four times

• Three times

• Two times

• Five times

What was the size of the last two interest rate hikes?

• 1/2 of a point

• 3/4 of a point

• 1 point

• 1.5 points