Powell’s Shift on Rate Hikes Comes as Officials Prepare for March Meeting
- Fed chief notes that several upcoming data releases to be key
- Powell advises the peak in Fed’s benchmark rate will be higher
Jerome Powell
Photographer: Al Drago/BloombergThis article is for subscribers only.
Less than five weeks after the Federal Reserve slowed its pace of interest-rate hikes, Chair Jerome Powell on Tuesday served warning it may need to re-accelerate.
Powell, who on Feb. 1 declared he could now say the “disinflationary process” had begun, delivered a notably different message at a congressional hearing Tuesday morning.