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Powell On Further Hikes Being Needed & The Debt Limit

FED
  • Q: Why do you think further hikes are needed? Why not stop now?
  • A: We raised rates 4.5% points and we are talking about a couple more rate hikes to get to the level we think is appropriately restrictive.
  • Q: on the debt limit - Powell uses some boilerplate language:
  • A: "There is only one way forward here, and that is for the Congress to raise the debt ceiling to the United States government can pay all of its obligations when due. Any deviations from that path would be highly risky and no one should assume the Fed can protect the economy from acting in a finally manner. In terms of our relationship with the Treasury, we are their fiscal agent and I will leave it at that."
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