Fed Chair Jerome Powell said it is still unclear if interest rates will need to rise further, as US central bank officials balance uncertainty about the impact of past hikes with the fact that inflation is proving hard to control
In carefully scripted remarks at a Fed research conference in which Powell was interviewed by a top U.S. central bank staffer, the Fed chief reiterated that the central bank would now make decisions "meeting by meeting," but also flagged that after a year of aggressive rate increases, officials "can afford to look at the data and the evolving outlook to make careful assessments.
U.S. policymakers remain on the fence about their upcoming policy decision, and will receive important jobs and inflation data in coming weeks that could sway the debate within the central bank's rate-setting Federal Open Market Committee. Powell's comments overall "were consistent with our takeaway from the May post-meeting press conference, which was that, while the wasn't sure whether further tightening would be necessary at some point, the committee's base case was a June pause," LHMeyer senior economist Kevin Burgett wrote.Photo d'archives du président de la Réserve fédérale américaine, Jerome Powell.
The Fed's policy statement at that meeting opened the door to a pause, though Powell in his post-meeting press conference said "it's not possible to say that with confidence now ... We're going to have to see data accumulating" before deciding whether the door was closed on further rate hikes.
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