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Powell Opens Door For 50bps Hikes at Next Couple of Meetings

FED
  • Goes on to reiterate the impact of Ukraine and China lockdowns on the economy (upward pressure on inflation, and restraining global growth / disrupting supply chains).
  • "We are strongly committed to restorting price stability. Broad sense on the Committee" that 50bp hikes "should be on the table at the next couple of meetings". "We will make our decisions meeting by meeting."
  • Goes on to explain the details of QT, says prepared to adjust in light of econ and financial decisions.
  • "Inflation has obviously surprised to the upside over the past year, and further surprises could be in store. We therefore will need to be nimble in responding to incoming data and the evolving outlook. We will strive to avoid adding uncertainty to what is already a extraordinarily challenging and uncertain time."
  • Q&A Begins
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