MNI BRIEF: Powell Keeps 100bp Move As Fed Option If Needed

Federal Reserve Chair Jerome Powell said he is keeping a full percentage point option on the table for future meetings if needed, but did not give a hint that it would be likely at the July meeting or later.

"I think I would never take something off the table for any and all purposes. The committee that I chair will make whatever moves that it believes are appropriate to restore price stability," Powell said, when asked why he appeared to remove the percentage point option at the June FOMC post-meeting press conference if needed later on.

Powell said in written testimony to Congress the Fed will be nimble and making rate decisions on a meeting by meeting basis.