MNI BRIEF: Fed’s Powell Seeks ‘Convincing’ Inflation Drop

Federal Reserve Chairman Jerome Powell said Tuesday the Fed needs to see inflation coming down consistently before it can think about pausing or slowing the pace of its monetary tightening, set for 50 basis point increases at the next two meetings.

“What we need to see is inflation coming down in a clear and convincing way,” Powell told the WSJ in a webcast. “We’re going to keep pushing until we see that.”

“We don’t know with any confidence what neutral is, we don’t know where tight is," he said.

Richmond Fed President Thomas Barkin told MNI's FedSpeak podcast this month he would not rule out larger 75 basis point moves.