US Federal Reserve Chairman Jerome Powell reiterated that it is likely appropriate to raise rates by 0.5 points at two Federal Open Market Committee (FOMC) meetings. He just said he was ready to change policy depending on economic indicators.
In an interview with the US public radio NPR program “Marketplace,” he was asked if he had already excluded the 0.75 point rate hike, and the authorities said he was “not actively considering” such a move. “If the economy moves almost as expected, an additional 0.5 point rate hike would be appropriate for the next two meetings.” He made similar comments at a press conference on the 4th of this month.
FRB Chairman Jerome Powell at a press conference on the 4th
Photographer: Al Drago/Bloomberg
Chair Powell pushes back 0.75 points rate hike outlook at June meeting
“But we have a series of forecasts regarding the economy,” Powell said in an interview statement released yesterday. “If things are better than expected, we are prepared to make them smaller.” And if it’s worse than expected, I’m ready to make it bigger. “
news-rsf-original-reference paywall">Original title:
news-rsf-original-reference paywall">Powell Reiterates Half-Point Hikes Are Likely in June and July(excerpt)