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MNI BRIEF: Powell Prepared To Do More Than 50BP Hikes-Mktplace

MNI (Washington)

Federal Reserve Chair Jerome Powell said he's prepared to consider larger rate hikes than the 50bp rate increases the FOMC has signaled are in store for now, after saying at his press conference last week the central bank was not "actively considering" a 75bp move.

"I would just say, we have a series of expectations about the economy," he told Marketplace. "If things come in better than we expect, then we’re prepared to do less. If they come in worse than when we expect, then we’re prepared to do more. Asked if this meant 75bps, he added: "What you’ve seen is, you’ve seen this committee adapt to the incoming data and the evolving outlook. And that’s what we’ll continue to do."

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Federal Reserve Chair Jerome Powell said he's prepared to consider larger rate hikes than the 50bp rate increases the FOMC has signaled are in store for now, after saying at his press conference last week the central bank was not "actively considering" a 75bp move.

"I would just say, we have a series of expectations about the economy," he told Marketplace. "If things come in better than we expect, then we’re prepared to do less. If they come in worse than when we expect, then we’re prepared to do more. Asked if this meant 75bps, he added: "What you’ve seen is, you’ve seen this committee adapt to the incoming data and the evolving outlook. And that’s what we’ll continue to do."

Keep reading...Show less