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Powell's ‘For Now’ Caveat a Sign Fed Rate Hikes Not on Autopilot

  • Fed chief adds caveat to plan for gradual interest-rate hikes
  • Says flattening yield curve may have message on neutral rates
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Fed's Powell Sees Gradual Rate Hikes as Best Path 'For Now'

Jerome Powell has a judgment to make on how hard monetary policy is biting down on the U.S. economy.

The signal came from two words: “for now,” used by the Federal Reserve chairman as a caveat in his description on Tuesday of the central bank’s plan to “keep gradually raising the federal funds rate.”