Federal Reserve Gov. Jerome Powell on panel discussing monetary policy and the outlook, in Washington.
Federal Reserve Governor Jay Powell sounds hawkish, saying there's a 50/50 chance for the big rate hike at the September FOMC followed possibly by another hike at the December meeting. Looking past recent slowing, he stresses that monetary policy works in long lags and has to anticipate conditions a year ahead which he believes will see stronger rates of economic growth and a rise in inflation. In a positive signal for stability, he says the market is successfully building in incremental increases for future rates.
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