Federal Reserve Chairman Jerome Powell announced on Wednesday that he is not raising interest rates despite the record inflation rates.

Powell told reporters inflation is significantly higher but he is not going to raise rates.

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Jerome added this is not the inflation you expect from high labor participation rates.

JUST IN – U.S. Federal Reserve keeps interest rates at 0.00% to 0.25%, removes “transitory” to describe inflation.

— Disclose.tv (@disclosetv) December 15, 2021

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Federal Reserve Chair Jerome Powell says the Fed is keeping interest rates near zero, but is speeding up the reduction in its asset purchases.

Watch: https://t.co/V4fjbVQ1mJ pic.twitter.com/pH6GdsXLZV

— CSPAN (@cspan) December 15, 2021

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