Fed chairman: Currently, inflation in the U.S. remains extremely high


December 1, Fineko/abc.az. The U.S. Federal Reserve, acting as the central bank, may raise the interest rate by less than 75 points after the December 13-14 meeting, ABC.AZ quotes Fed chairman Jerome Powell.

He noted that the central bank is projected to raise rates by 50 points in December.

At that, Powell noted that the full effect of the Fed's rapid tight monetary policy has not yet been felt.

Powell stressed that currently, inflation in the U.S. remains extremely high.

"We still have a long way to go to restore price stability," he said.