The US Federal Reserve is determined to fight inflation

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The US Federal Reserve is determined to fight inflation

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The US Federal Reserve is determined to fight inflation

By م.زهير الشاعر

Published: May 25, 2022

Federal Reserve officials emphasized their "strong commitment and determination" to control inflation through a series of interest rate hikes, according to the minutes of the latest monetary policy meeting released on Wednesday.

While the world's largest economy is in a strong position, the Federal Reserve must move "quickly" to raise the benchmark borrowing rate and unload massive bond holdings to rein in inflation.

The Federal Reserve's policy committee early this month raised the key interest rate by half a point, and most members said similar increases "are likely appropriate at the next two meetings."

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