2023-06-21 13:14:55
The Fed should resume its rate hikes, following the pause marked last week, once more hinted on Wednesday its president, Jerome Powell, hammering that “almost all” the leaders of the institution anticipate having to raise them once more from here. the end of the year.
“Almost all” of the institution’s officials — governors and regional branch presidents — “expect it to be appropriate to raise interest rates somewhat further by the end of the year. year”, said Jerome Powell in front of elected members of the House of Representatives, during his semi-annual hearing before a committee.
On June 14, the Fed marked a pause in its key rate hikes, for the first time since March 2022, and following 10 hikes, by 5 points in total. Rates are now in the range of 5 to 5.25%.
“At last week’s meeting, given where we were coming from and the speed at which we were moving, we felt it prudent to ‘keep rates where they are, to ‘allow’ Fed officials” to assess the information and its implications for monetary policy,” said Jerome Powell.
The next Fed meeting will be July 25-26.
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