Economics
Powell Points Republicans to Forecasts Showing One More Rate Hike
- Republican Kevin Hern speaks on private Wednesday meeting
- Comments came in closed-door meeting with conservatives
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Federal Reserve Chair Jerome Powell, asked in a private meeting with US lawmakers how much further the central bank will raise interest rates this year, pointed to policymakers’ latest forecasts showing they anticipate one more increase, according to Republican Representative Kevin Hern.
Hern is the chairman of the Republican Study Committee, the group of conservatives with whom Powell met on Wednesday. The meeting with the Fed chief had been scheduled prior to the collapse of SVB, a spokeswoman for the group said.