Inflation rates in the United States are at their highest level in 40 years

Washington-Sana

Federal Reserve Chairman Jerome Powell acknowledged that inflation rates in the United States of America have reached their highest level in 40 years.

And the American Sky News channel quoted Jerome as saying to the House of Representatives committee today that his commitment to curb inflation, which reached its highest level in 40 years, is unconditional, noting that a sharp rise in interest rates may also raise unemployment rates.

Jerome added that there is a risk that the central bank's moves will cause unemployment to rise, knowing that it reached 3.6 percent during the month of May.

In turn, economists warned that the ill health of the largest economy in the world will negatively affect the rest of the economies, and that the US economic crisis is almost reaching the stage of stagflation, which will eventually affect most countries.

And the US Commerce Department said that the current account deficit, which measures the flow of goods, services and investment to and from the country, accelerated 29.6 percent to $291.4 billion in the last quarter.

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