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MNI BRIEF: Fed's Powell Wants To Keep Policy Restrictive

MNI (WASHINGTON) - Federal Reserve Chair Jerome Powell said Wednesday interest rate policy should stay restrictive for now because inflation is still too high despite significant strides over the past year. 

"We’re close but not there yet on inflation. You did see today’s inflation print which says the same thing – we’ve made great progress but we’re not quite there yet," Powell told lawmakers in a hearing. "We want to keep policy restrictive for now."

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MNI (WASHINGTON) - Federal Reserve Chair Jerome Powell said Wednesday interest rate policy should stay restrictive for now because inflation is still too high despite significant strides over the past year. 

"We’re close but not there yet on inflation. You did see today’s inflation print which says the same thing – we’ve made great progress but we’re not quite there yet," Powell told lawmakers in a hearing. "We want to keep policy restrictive for now."

Keep reading...Show less