Fed’s Powell: Want to see ‘persistent’ inflation before raising rates

Washington (AFP) – Federal Reserve Chairman Jerome Powell said Wednesday he would want to see a “significant” and “persistent” inflation rise before he would raise rates to clamp down on prices.

For now, the Fed’s benchmark interest rate “is appropriate and will remain appropriate” until there is a change in the outlook, he said.

“In order to move rates up, I would want to see inflation that is persistent and that is significant,” Powell told reporters.