US Fed ponders raising rates

Rate poser: Powell says the Fed has to think about how much further to raise rates and the pace at which to raise them. — AP

NEW YORK: Federal Reserve chairman Jerome Powell said the US economy is strong but could face headwinds next year as policy makers weigh how far and fast to raise interest rates.

“We have to be thinking about how much further to raise rates, and the pace at which we will raise rates,” Powell said during a question and answers session Wednesday in Dallas moderated by Dallas Fed chief Robert Kaplan. The goal is to “extend the recovery, expansion, and to keep unemployment low, to keep inflation low”.