Federal Reserve signals rate hikes in 2023 as US economic recovery fuels inflation

As the US economy continues to recover from the pandemic-induced crisis, America's central bank has signalled that interest rates might rise much sooner than expected. 

The US Federal Reserve has laid the groundwork to start withdrawing massive economic stimulus rolled out during the pandemic but still says rates won't begin to rise until 2023. 

HSBC Australia chief economist Paul Bloxham says the Fed's signals are good news but doubt they will sway the commitment by the Reserve Bank to keep rates near zero until 2024.

Here's my analysis from ABC NewsRadio