The FED is going to bring inflation back to 2% - so it will not...

The FED is going to bring inflation back to 2% - so it will not be easy.

"Federal Reserve chairman Jerome Powell said he expected the economy to slow and the unemployment rate to rise in coming months as interest rates increase, noting, "75 basis points seemed like the right thing to do at this meeting, and that's what we did".

Mr Powell told journalists afterwards that the US central bank was likely to raise borrowing costs by 0.5 per cent, to 0.75 per cent next month.

The Fed sees the economy slowing to 1.7 per cent growth this year and the unemployment rate is predicted to rise by 0.5 per cent to 4.1 per cent next year. "