A majority of officials on the US Federal Reserve's Federal Open Market Committee (FOMC), which is tasked with setting policies, now predicts an interest rate increase in 2023. "We continue to expect that it will be appropriate to maintain the current 0 to .25 percent target range for the federal funds rate until labor market conditions have reached levels consistent with the committees' assessment of maximum employment, and inflation has risen to 2 percent, and is on track to moderately exceed 2 percent for some time," US Federal Reserve Chair Jerome Powell says in Washington. SOUNDBITE

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