Fed Chair Expects Interest Rates to Hold Steady Amid High Inflation

Federal Reserve Chair Jerome Powell announces that interest rates are expected to hold steady, quashing hopes for a reduction anytime soon. Speaking at the Foreign Bankers Association in Amsterdam on Tuesday, Powell emphasized that recent inflation readings have been higher than anticipated, necessitating a patient approach from the Fed.

Don't expect interest rates to fall anytime soon. That's the word from Federal Reserve Chair Jerome Powell who noted that inflation is falling more slowly than expected.

Federal Reserve Chair Jerome Powell the Fed needs to be "patient and let restrictive policy do its work."