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MNI BRIEF: Fed's Powell Says 50BP Hike 'On The Table' For May

(MNI) Washington
(MNI) Washington

Fed chief pledges to restore price stability by moving quickly to contain inflation.

True

A half-point interest rate increase is "on the table" at the Federal Reserve's next meeting in May, Chair Jerome Powell said Thursday during an IMF roundtable in Washington, adding it's appropriate for the Fed to move "a little more quickly" to contain historically high inflation.

"It is appropriate in my view to be moving a little more quickly," he said. "There's something in the idea of front-end loading whatever removal of accommodation one thinks is appropriate. So that's an added point in the direction of 50bps being on the table."

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A half-point interest rate increase is "on the table" at the Federal Reserve's next meeting in May, Chair Jerome Powell said Thursday during an IMF roundtable in Washington, adding it's appropriate for the Fed to move "a little more quickly" to contain historically high inflation.

"It is appropriate in my view to be moving a little more quickly," he said. "There's something in the idea of front-end loading whatever removal of accommodation one thinks is appropriate. So that's an added point in the direction of 50bps being on the table."

Keep reading...Show less