Free Trial

MNI BRIEF: Powell-"Couple" Hikes To Appropriately Restrictive

(MNI) WASHINGTON

The Federal Reserve needs to deliver "a couple more" interest rate hikes before reaching levels that are sufficiently restrictive to get inflation on a downward path, Fed Chair Jerome Powell told reporters Wednesday.

"We raised rates 4.5 percentage points and we are talking about a couple more rate hikes to get to the level we think is appropriately restrictive," Powell said. "Inflation is running hot. We are taking into account long and variable lags. We are thinking about that." (See MNI INTERVIEW: US Labor Market Could Have Soft Landing-Paycheck)

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.