Inflation in the United States has not 'turned the corner yet' and it is too early for the Federal Reserve to declare victory in the fight on rising prices, a top IMF official said in an interview with the Financial Times on Thursday.
Shoppers crowd a supermarket to buy food ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 22, 2022. REUTERS/Jim VondruskaJan 5 - Inflation in the United States has not "turned the corner yet" and it is too early for the Federal Reserve to declare victory in the fight on rising prices, a top IMF official said in an interview with the Financial Times on Thursday.
Gita Gopinath, a deputy managing director of the Fund, urged the U.S. central bank to press ahead with rate rises this year. She said it was important for the Fed to "maintain restrictive monetary policy" until a "very definite, durable decline in inflation" was evident in wages and industries not related to food or energy.
"If you see the indicators in the labour market and if you look at very sticky components of inflation like services inflation, I think it's clear that we haven't turned the corner yet on inflation," she
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
English Premier League prediction: West Ham United vs. Leeds United pick, oddsHere’s our pick for Wednesday’s English Premier League match between West Ham United and Leeds United.
Read more »
Inflation in key German states eases for second monthInflation in five key German states eased for a second month in a row in December, indicating national inflation may also have slowed for a consecutive month due in part to the government's one-off payment of household energy bills.
Read more »
European shares rise with all eyes on German inflation dataEuropean shares extended gains on Tuesday as investors awaited consumer prices data from Germany, the region's largest economy, for clues about inflation in the euro zone.
Read more »
POLL Turkey annual inflation to ease to 66.8% in December, 43.2% a year laterTurkey's annual inflation is expected to fall sharply to 66.8% in December due to a favourable base effect but drop only to 43.2% by the end of 2023, a Reuters poll showed on Wednesday, while monthly price rises should remain elevated.
Read more »
European stocks soar; falling German inflation helps tone By Investing.com*EUROPEAN STOCKS SOAR TO START THE NEW YEAR; FALLING GERMAN INFLATION BOOSTS SENTIMENT
Read more »
European shares rise with focus on German inflation dataEuropean shares rose on Tuesday as investors awaited consumer prices data from the region's largest economy, Germany, while a jump in energy stocks lifted UK's FTSE 100 in its first trading day of the year.
Read more »