Central Banks
Powell Softens Tone and Says March Rate Hike Size Is Not Yet Decided
- Fed chair cites upcoming payroll and inflation reports
- Powell gives second day of semi-annual testimony to Congress
Jerome Powell arrives to a House Financial Services Committee hearing in Washington, on March 8.
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
Federal Reserve Chair Jerome Powell softened his tone slightly during a second day of congressional testimony, saying policymakers will wait for fresh jobs and inflation data before deciding how much to raise interest rates later this month.
The Fed chief repeated his message from Tuesday that the US central bank is likely to take rates higher than previously anticipated and that it could move at a faster pace if economic data keeps coming in hot. But he diverged slightly from his prepared remarks to qualify the statement.