Federal Reserve Chairman Jerome Powell reiterated that policy makers expect further interest rate hikes later this year to contain persistent inflation pressures and calm a surprisingly resilient labor market.
On the 28th, the chairman participated in a panel discussion hosted by the European Central Bank (ECB) in Sintra, Portugal. “The policies are constraining, but they may not be constraining enough. Constraint policies haven’t been around long enough yet,” he said.
Powell also said he wouldn’t rule out rate hikes at back-to-back Federal Open Market Committee (FOMC) meetings. He suggested at the July and September meetings that he might raise the policy rate.
And most officials believe further tightening is needed to keep high inflation in check, Powell said.
news-rsf-original-reference paywall">Original title:Fed’s Powell Says Policy May Not Be Restrictive Enough Yet(excerpt)
2023-06-28 14:35:31
#Powell #policy #restrictive
