Fed Chair Powell Refers to Potentially Larger Rate Increases

Speaking at a conference on March 21, Chairman Powell stated that raising rates by more than .25% could be considered at future Federal Reserve meetings. His comments referenced the strong job market and pandemic-related economic recovery as he said that the Fed will not wait for supply chain and other impacts to lessen before pulling back on stimulus and raising rates to “take the necessary steps to ensure a return to price stability.”

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