Free Trial

MNI BRIEF: Powell-Fed To Make Meeting By Meeting Rate Calls

(MNI) WASHINGTON

Federal Reserve Chair Jerome Powell said Wednesday the FOMC is open to hiking interest rates again in September but has not committed to any particular decision.

"It is certainly possible" that the FOMC would hike at its next meeting in September, he said. “We haven’t made a decision to go to every other meeting. We’re going to be going meeting by meeting," Powell told reporters in his post-meeting press conference. “The process of getting inflation back down to 2% has a long way to go."

The Fed on Wednesday resumed rate hikes after a June pause, raising the fed funds rate to 5.25%-5.5%.

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.