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Business Matters: US Interest rates could go higher than expected

US Interest rates could go higher than expected

08/03/2023 GMT

BBC World Service - Business Matters, US Interest rates could go higher than expected

Federal Reserve chairman Jerome Powell says rates could go higher than expected

The head of the US central bank has said interest rates may go higher than previously expected to stabilise prices. The recent strong economic data means the Fed needs to adopt a more aggressive policy. 

The White House is supporting a bipartisan bill in Congress that will give President Biden new powers to ban the Chinese-owned app,  TikTok,  and other foreign technologies that could pose security threats.  The legislation comes after the US government officials were banned from installing TikTok on their devices in January.

Elon Musk has apologised to a Twitter worker after he initially sacked him on his platform. It followed an exchange about the employees work which went viral.  Mr Musk said there had been a misunderstanding.

(Picture:   A sign for Wall Street near New York Stock Exchange in New York,  Credit: EPA)

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