[size=24]The US Federal Reserve Is Likely To Continue Raising Interest Rates
By AFP On October 17, 2018[/size]
The Federal Reserve said there was no reason to curb the gradual increase in interest rates in light of the rapid growth of the US economy, according to minutes of Wednesday's meeting.
The minutes of the Fed's last meeting three weeks ago suggested that continued interest rate hikes "will probably be in line" with the period of steady inflation and unemployment falling to historic lows.
However, members of the Reserve Board of Governors warned that the instability of emerging markets, much of which is indebted to the impact of higher interest rates, may "move into the global economy and financial markets."
The Federal Reserve raised interest rates by angering US President Donald Trump, who recently said the central bank was "crazy" and "the main threat" to him.
But his chief economic adviser Larry Cadlow confirmed that Trump "gives his opinion" as a veteran businessman and "does not" exceed the independence of the Fed despite all these criticisms.
After Wall Street's recent slide on the back of the US central bank's interest rate hike, Trump considered the Federal Reserve to be acting "too aggressively" and "making a big mistake" in criticisms that formed a break with the conservative policy traditionally adopted by US presidents over this independent institution .
Last week, stock markets fell almost across the globe after the Fed's sudden decision to raise interest rates.