Economics
Powell Backs Quarter-Point March Rate Hike, Open to Bigger Moves
- Effects on U.S. from Ukraine war ‘highly uncertain,’ he says
- Fed must be ‘nimble’ in data response, evolving outlook
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Federal Reserve Chair Jerome Powell backed a quarter-point interest-rate hike this month to commence a series of increases and didn’t rule out a larger move at some stage, despite uncertainty caused by Russia’s invasion of Ukraine.