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Tag: Powell

Powell tells Congress the Fed is ‘strongly committed’ on inflation, notes recession is a ‘possibility’

Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and has the ability to make that happen."At the Fed, we understand the hardship high inflation is causing. We are strongly committed to bringing...

Powell vows that the Fed is ‘acutely focused’ on bringing down inflation

Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open...

Powell says Fed could hike rates by 0.75 percentage point in July

Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July as it did in June."From the perspective of today, either a 50 basis point or a 75 basis...