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.

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