Fed Chair Warns of Higher Interest Rates Than Previously Anticipated, Faster Hikes
Federal Reserve Chairman Jerome Powell has warned that “the ultimate level of interest rates is likely to be higher than previously anticipated.” In addition, if faster tightening is warranted, the Fed “would be prepared to increase the pace of rate hikes,” Powell said.
We continue to anticipate that ongoing increases in the target range for the federal funds rate will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time.
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