Federal Reserve Chair Jerome Powell told reporters Wednesday the FOMC considered stopping its rate hikes this week but decided on another quarter point hike instead.

“We did consider that in the days running up to the meeting. So our decision was to move ahead with the 25-basis point hike and change our guidance as I mentioned from ongoing hikes to some additional hikes maybe -- policy firming may be appropriate," he said.

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Federal Reserve Chair Jerome Powell told reporters Wednesday the FOMC considered stopping its rate hikes this week but decided on another quarter point hike instead.

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