Economy

Powell sees no interest rate hikes on the horizon as long as inflation stays low

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Federal Reserve Chairman Jerome Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery.

“When the time comes to raise interest rates, we’ll certainly do that, and that time, by the way, is no time soon,” the central bank chief said Thursday during a Q&A session presented by Princeton University.

During the wide-ranging discussion, Powell spoke about how the Fed handled the challenges brought on by the Covid-19 pandemic as well as his expectations for what is ahead.

In its most recent policy statement, issued in December, the policymaking Federal Open Market Committee said it would keep an accommodative…



Source cnbc.com

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