A senior US Federal Reserve official said Tuesday that the US central bank can afford to sit tight for now, while not ruling out another rate hike down the line to tackle inflation. The Fed has raised interest rates 11 times since March last year to control runaway inflation, raising its key lending rate in July to its highest level for 22 years. But despite making significant progress, inflation remains above the Fed’s long-term target of two percent. Meanwhile, the US jobs market has shown growing signs of softening in recent months, a key precondition for the Fed to contemplate an end to its cycle of monetary ... (full story)