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U.S. commerce secretary: Fed rate rise would provide relief from inflation
WASHINGTON, Jan 27 (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Thursday that prices would fall and offer relief to consumers who have been affected by inflation if the Federal Reserve were to raise interest rates.
The Fed said Wednesday it was likely to hike interest rates in March and reaffirmed plans to end its bond purchases that month in what U.S. central bank chief Jerome Powell pledged will be a sustained battle to tame inflation.
"If the Fed decides to do that, the hope and I think the reality would be prices come down. And so to the extent that folks are frustrated by inflation, I think you'll see some relief on that," Raimondo said in an interview on MSNBC. (Reporting by Chris Gallagher; Editing by Doina Chiacu)
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