WASHINGTON, USA – Further Federal Reserve rate increases are “a pretty good guess” of where the central bank is heading if the economy continues in its current direction, Fed Chair Jerome Powell said in remarks on Wednesday, June 21, to lawmakers on Capitol Hill.
“We didn’t use the word pause and I wouldn’t use it here today,” Powell said. The outlook for two more rate hikes by the end of the year, included in the Summary of Economic Projections released by the Fed last week, “is a pretty good guess of what will happen if the economy performs about as expected,” Powell said.
As Powell spoke, comments from other Fed officials showed the contours of the debate emerging at the central bank over whether further rate increases will, in fact, be needed.forum that he felt the central bank was in a “wait and see” mode as further data come in.
Source: Loan Digest (loandigest.net)
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