(ANSA) - ROME, MARCH 07 - The stability of the economy in the face of increases in the cost of money indicate that the level that interest rates will reach will be higher than anticipated.
This was stated by Fed Chairman Jerome Powell in front of the US Senate, explaining that the Fed is ready to accelerate increases if needed because the road to bring down inflation is still long and will be bumpy.
Decisions will be made meeting by meeting and based on economic data, Powell clarified, and bringing inflation back to the 2% target "will probably require maintaining a tight monetary policy for some time. We will go ahead until the job is done" .
Fed swaps in the market point to a 0.50% interest rate hike by the Fed at its next meeting on March 21-22.
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