Powell Signals Fed Open to Two Straight Hikes at Coming Meetings

  • Projections show Fed officials see rates rising more this year
  • Fed chair makes remarks at ECB forum in Sintra, Portugal

Federal Reserve Chair Jerome Powell signaled policymakers could potentially raise interest rates in July and September to curb persistent price pressures and cool a surprisingly resilient US labor market.

Asked whether Fed officials now anticipate they will raise rates every other meeting after skipping an upward move this month, Powell said that may or may not happen and that he wouldn’t rule out consecutive rate increases. He reiterated that most policymakers’ forecasts show they expect to hike at least two more times this year.

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