Fed's Powell: 'Ultimate level' of rates likely higher than earlier estimates
Tweet
Share
E-mail
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., November 2, 2022. REUTERS/Elizabeth Frantz
(Reuters) - The "ultimate level" of the Federal Reserve's benchmark policy rate is likely higher than previously estimated, Fed Chair Jerome Powell said on Wednesday.
In remarks at a press conference after the Fed raised rates by 75 basis points for a fourth consecutive meeting, Powell said there is "significant uncertainty" around the level of rates needed to bring down inflation, but "we still have some ways to go."
(Reporting By Dan Burns; editing by Jonathan Oatis)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump: Scott Bessent will not be going to be super intelligence (SI) czar
- Investing.com’s stocks of the week
- Nektar Therapeutics stock rises on $90M jury verdict vs Lilly
Create E-mail Alert Related Categories
Fed, General News, ReutersRelated Entities
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!
