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Increase of US Interest Rate Can Happen ‘Fairly Soon’

© AFP 2023 / BRENDAN SMIALOWSKIA view of the Federal Reserve
A view of the Federal Reserve - Sputnik International
The United States could see the next interest rate hike comparatively soon, US Federal Reserve Governor Jerome Powell said in a speech on Thursday.

WASHINGTON (Sputnik) — In April, the Federal Open Market Committee (FOMC) said the interest rate hike possibility remains open for the policy meeting in June.

"Depending on the incoming data and the evolving risks, another rate increase may be appropriate fairly soon," Powell stated at the Peterson Institute in Washington, DC.

On April 27, the FOMC announced that the US interest rates will stay unchanged at the 0.25-0.5 percent range.

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