Economics
Powell's Rosy Outlook Invites Fed to Weigh Four 2018 Rate Hikes
- Fed must strike balance to avoid overheat amid low inflation
- His first testimony as Fed chair sounds upbeat note on economy
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Jerome Powell opened the door to the Federal Reserve raising U.S. interest rates four times this year as he acknowledged stronger economic growth may prompt policy makers to rethink their plan for three hikes.
“My personal outlook for the economy has strengthened since December,” the Fed chairman said Tuesday in response to a question about what would cause the central bank to step up the pace of policy tightening. He then listed four events that are causing him to revise up his outlook.