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MNI: Fed Rate Decisions To Be Made Meeting By Meeting - Powell

(MNI) Washington
WASHINGTON (MNI)

Fed Chair says American economy is "very strong" and well positioned to handle tighter monetary policy.

Federal Reserve Chairman Jerome Powell Wednesday told Congress the U.S. central bank plans to continue to raise interest rates with sizes decided on a meeting by meeting basis.

"We will make our decisions meeting by meeting, and we will continue to communicate our thinking as clearly as possible," he said in written testimony to Congress. "We anticipate that ongoing rate increases will be appropriate; the pace of those changes will continue to depend on the incoming data and the evolving outlook for the economy."

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Federal Reserve Chairman Jerome Powell Wednesday told Congress the U.S. central bank plans to continue to raise interest rates with sizes decided on a meeting by meeting basis.

"We will make our decisions meeting by meeting, and we will continue to communicate our thinking as clearly as possible," he said in written testimony to Congress. "We anticipate that ongoing rate increases will be appropriate; the pace of those changes will continue to depend on the incoming data and the evolving outlook for the economy."

Keep reading...Show less