Fed Chair Powell says he would want to see persistent rise in inflation before hiking rates again

Investing

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on Wednesday, June 19, 2019.

Andrew Harrer | Bloomberg | Getty Images

This is a breaking news story. Please check back for updates.

Federal Reserve Chairman Jerome Powell said on Wednesday that he’d prefer to let inflation rise and hold above the central bank’s target before considering future interest rate hikes.

“In order to move rates up, I would want to see inflation that’s persistent and that’s significant,” Powell said from a press conference in Washington. “A significant move up in inflation that’s also persistent before raising rates to address inflation concerns. That’s my view.”

Articles You May Like

Here’s the inflation breakdown for July 2026 — in one chart
Megayacht Amadea sold for $187 million to Dubai billionaire with Trump ties
AI computing power is becoming a tradable asset class as CME launches futures contracts
Wednesday’s crucial CPI report will show tamer inflation, according to prediction markets
Berkshire Hathaway boosts Alphabet to a top three holding, ups Delta and housing bets

Leave a Reply

Your email address will not be published. Required fields are marked *