Powell: Fed ready to speed up pace of rate hikes if necessary

03/07 15:11

Fed Chairman Jerome Powell said the Fed is ready to speed up the pace of rate hikes if necessary. Inflation has eased somewhat, but the fall back process could be bumpy. It will take time for policy to have its full impact, and the labour market remains extremely tight. A sustained increase in policy rates may be appropriate so that the stance is tight enough to allow inflation to return to 2% over time. History cautions against easing policy too soon. The eventual level of interest rates may be higher than expected.
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