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Powell Pleased The Fed HAs Moved Quickly, Doesn't Think Have Overtightened

FED
  • I'm pleased that we have moved as fast as I have. I don't think we've overtightened. It's very difficult to make a case that our current level is too tight, given that inflation still runs well above the funds rate. At this meeting, as the last two meetings, I've said there would come a point at which we had a discussion about what that might mean. And we did discuss this. As I mentioned, we'll discuss again in December. I don't have any sense we've over tightened or moved too fast. I think it's been a good and successful program that we've gotten this far this fast. Remember, that we still think there's a need for ongoing rate increases. We have some ground left to cover here. And cover it we will.
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