US Fed Warns Against "Unwarranted" Loosening Of Conditions
The Fed had on Wednesday raised interest rates by 50 basis points as expected, but its Chair Jerome Powell said the U.S. central bank would deliver more interest rate hikes next year, despite growing recession worries. An unwarranted easing in financial conditions, especially if driven by a misperception by the public of the Committee's reaction function, would complicate the Committee's effort to restore price stability.
