Tuesday, October 3, 2023
HomeEconomyPowell reiterates hawkish stance, says further rate hikes likely

Powell reiterates hawkish stance, says further rate hikes likely


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Speaking at ECB meeting In Portugal, Fed Chair Jerome Powell says central bank may hike rates 26 Rate again .

Powell did not rule and decided to raise rates at the upcoming meeting at the end of July. The June pause bought some time for the Fed to adjust monetary conditions before its July meeting.

“The only thing we decided was not to raise rates at the June meeting,” Powell said.

“You know, I’m not going to take action at all in consecutive meetings,” he added, before adding that “the committee clearly believes there is more work to be done. Do it, and may raise interest rates appropriately.”

Powell also said 200 Inflation back to Fed’s 2% target likely will not happen50.

FOMC meeting scheduled for July -.



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