The Fed announced the risk of increased inflation in the United States

The US Federal Reserve System (FRS) announced the risk of increased inflation. The expected rise in energy prices may contribute to this. This was stated by member of the Fed Board of Governors Michelle Bowman.

“In the coming months, higher energy prices could reverse some of the recent progress that has been made through supply-side improvements to reduce headline inflation,” Bowman was quoted as saying by RIA Novosti. In her opinion, this could pose significant risks to curbing inflation.

Members of the US Federal Reserve’s Open Market Steering Committee said in early November that they do not plan to cut rates in the near future due to high inflation, this told TASS. Currently, the Federal Reserve’s base rate is in the range of 5.25-5.5%, which is the highest level in the last 22 years.