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Powell Backs March Liftoff, Won’t Rule Out Hike Every Meeting

  • FOMC says interest-rate hike will ‘soon be appropriate’
  • Balance-sheet reduction to commence after liftoff begins
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Powell: Fed Is 'of Mind' to Raise Rates at March Meeting
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Federal Reserve Chair Jerome Powell said the central bank was ready to raise interest rates in March and didn’t rule out moving at every meeting to tackle the highest inflation in a generation.

“The committee is of a mind to raise the Fed funds rate at the March meeting” if conditions are there to do so, Powell told a virtual press conference on Wednesday, while noting that officials have not made any decisions about the path of policy because it needs to be “nimble.”