The U.S. Federal Reserve will likely raise interest rates this year, but that's "an expectation, not a commitment," vice chairman Stanley Fischer said Sunday, Reuters reports.
"Both the timing of the first rate increase and any subsequent adjustments to the federal funds rate target will depend critically on future developments in the economy," he said at the International Monetary Fund meeting in Peru.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
'Despite all past efforts, system failures occur'Instant Opinion Opinion, comment and editorials of the day
-
Gabbard fires intelligence chiefs after Venezuela reportspeed read Director of National Intelligence Tulsi Gabbard has fired the top two officials leading the National Intelligence Council
-
Critics' choice: Reimagined Mexican-American fareFeature A shape-shifting dining experience, an evolving 50-year-old restaurant, and Jalisco-style recipes
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
