FED nods to gradual rate increases

by VTV401 March 2018 Last updated at 16:19 PM

VTV.vn - Federal Reserve Chairman Jerome Powell, in his first public appearance as head of the U.S. central bank, vowed on Tuesday to prevent the economy from overheating while sticking with a plan to gradually raise interest rates.

Testifying before the U.S. House of Representatives' Financial Services Committee, Powell acknowledged the economy had strengthened recently as the U.S. unemployment rate is at a 17-year low of 4.1%.

He said the Federal Open Market Committee would continue to strike a balance between avoiding an overheating economy and bringing price inflation to 2% on a sustained basis. The Fed is expected to push through its first rate increase of 2018 at its next policy meeting in March.

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