Fed's Powell: Possible fed could raise rates beyond December forecast
U.S. Federal Reserve Chair Jerome Powell addresses reporters after the Fed raised its target interest rate by a quarter of a percentage point, during a news conference at the Federal Reserve Building in Washington, U.S., February 1, 2023. REUTERS/Jonathan
NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday he is not fully sure where the central bank will stop with rate rises as it presses forward with its efforts to cool inflation.
"There is more work to do" and the Fed has not decided where it will stop rate rises, with the possibility the Fed will go above the 5.1% federal funds rate it penciled in as a terminal rate in its December forecasts, he said in a press conference following the Federal Open Market Committee meeting.
(Reporting by Michael S. Derby; Editing by Chris Reese)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bostic: Won't Be In Position To Reduce Rates Until End Of Yeary
- Mexico's presidential frontrunner Sheinbaum widens lead in April poll
- Israel's Netanyahu says 'more has to be done' to stop pro-Palestinian protests on US campuses
Create E-mail Alert Related Categories
Fed, ReutersRelated Entities
Federal Open Market Committee, Jerome PowellSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!