More from the Fed’s Powell: We plan to push rates higher in a series of hikes

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  • Learn more about Fed Chairman Powell’s testimony

Fed's Powell

Fed’s Powell testifies in House of Representatives

  • We expect to raise the policy rate in a series of rate hikes this year
  • We expect interest rates to rise in a series of hikes this year.
  • Our plan is to return to price stability while supporting continued expansion
  • Very important that adds up to strong, high inflation
  • The labor market is also extremely strong.
  • From this point of view, in a good position to control inflation.
  • Workers will still have good jobs, pay raises for a while.
  • The economy can handle our rate increases. We need to align demand and supply
  • I expect the fed funds rate to rise in two weeks and a series of increases this year, but given the situation in Ukraine, we will proceed with caution.
  • The neutral rate is between 2% and 2 1/2%
  • We’re talking about reaching a neutral rate of 2% to 2 1/2%, and it may need to go higher than that
  • The Fed can achieve a soft landing
  • Monetary policy works through expectations, rate hikes have already happened and we need to ratify them

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