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MNI BRIEF: Powell: 75 bps Possible in Sept, Depends on Data

MNI (New York)

Federal Reserve Chair Jerome Powell said at the start of his press conference Wednesday that another 75 basis point interest rate hike was possible at the Fed’s September meeting, that would depend on the path of the economy between now and then.

“While another unusually large increase could be appropriate at our next meeting that is a decision that will depend on the data we get between now and then,” Powell said. "We wouldn't hesitate to make a larger move than we did today if the committee concludes that were appropriate."

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Federal Reserve Chair Jerome Powell said at the start of his press conference Wednesday that another 75 basis point interest rate hike was possible at the Fed’s September meeting, that would depend on the path of the economy between now and then.

“While another unusually large increase could be appropriate at our next meeting that is a decision that will depend on the data we get between now and then,” Powell said. "We wouldn't hesitate to make a larger move than we did today if the committee concludes that were appropriate."