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Powell Reiterates Half-Point Hikes Are Likely in June and July

  • ‘We’re prepared to do more’ if needed, he tells Marketplace
  • Says soft landing a challenge and will include ‘some pain’
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Fed's Powell, Daly Back 50-Basis Point Rate Hike
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Federal Reserve Chair Jerome Powell reaffirmed that the central bank is likely to raise interest rates by a half percentage point at each of its next two meetings, while leaving open the possibility it could do more.

In a interview with the Marketplace public radio program on Thursday, Powell made clear his determination to get inflation under control but conceded that the Fed’s ability to do that without triggering a recession may depend on factors outside its control.