Key Points
Several of the world's top central bankers said Wednesday that resilient economies are keeping inflation too high, and more monetary tightening will be needed...
"Although policy is restrictive, it may not be restrictive enough and it has not been restrictive for long enough," Federal Reserve Chair Jerome Powell said at a conference at the Portuguese resort of Sintra...
His comments on inflation were largely echoed by Bank of England Governor Andrew Bailey and European Central Bank President Christine Lagarde, both of whom said they expect more moves...
The Fed chief spoke two weeks after he and his colleagues left interest rates steady after 15 months of increases to allow more time to evaluate how higher borrowing costs and recent banking strains are hitting the economy...
The Fed's message is in line with the hints from central bankers in Europe and elsewhere that further rate hikes may be needed if underlying inflationary pressures persist..
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