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Powell Eyes Two More Hikes...But He's Just Pointing To The Dot Plot

FED

Some headlines coming out regarding Fed Chair Powell's Senate testimony today including "Powell: Likely Appropriate To Raise Rates Two More Times This Year" - however his actual comments refer to the FOMC's Dot Plot rather than necessarily his own personal preference, so shouldn't be market-moving.

  • Powell: "The Committee broadly feels that monetary policy has gotten to an appropriately restrictive level. If the economy performs about as expected that it will be appropriate to raise rates again this year and perhaps twice. A strong majority of the committee feels that it will be appropriate again - assuming that the economy performs as expected - two times before the end of this year."

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