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US Fed officials see rate hikes in 2023, again say inflation ‘transitory’

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AFP

Washington (AFP) – The uptick in US inflation won’t last, the Federal Reserve’s policy setting committee said Wednesday as it ended its latest meeting, though a majority of the bank’s top officials now believe interest rates may rise in 2023. The central bank acknowledged that widespread vaccinations have allowed the United States to rebound faster than previously expected from the Covid-19 pandemic downturn, but in its statement after the meeting’s conclusion, the Federal Open Market Committee (FOMC) acknowledged “risks to the economic outlook remain.” Fed officials appear to have grown more …

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