Federal Reserve Chair Jerome Powell recently stated that inflation is currently “too high” and warned that the central bank is “prepared to raise rates further,” if necessary, in order to address rising cost of living pressures. The Fed Chair also noted that the Fed has the tools they need to curb inflationary pressures, but that more rate increases may be necessary. These comments have spurred market speculation that the Fed may increase rates in the upcoming year in response to the phenomenal economic growth the US is experiencing.
