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Central Banks

Powell Says Further Rate Hikes Needed and Markets Take Heed

  • Fed chair: jobs report shows why cooling prices to take time
  • Says ‘it may well be the case that we have to do more’
Bloomberg business news
Powell Says Further Fed Rate Increases Are Needed
Updated on

Federal Reserve Chair Jerome Powell stuck to his message that interest rates need to keep rising to quash inflation and this time, the bond market listened.

In particular, Powell floated the idea during an event in Washington on Tuesday that borrowing costs may reach a higher peak than traders and policymakers anticipate.