At today's virtual press conference, Federal Reserve Chair Jerome Powell said the central bank is ready to raise interest rates in March, and he didn't rule out moving at subsequent meetings to tackle the highest inflation in a generation.
"The committee is of a mind to raise the Fed funds rate at the March meeting" if conditions are there to do so, Powell said, while noting that officials have not made any decisions about the path of policy because it needs to be "nimble."
He was speaking after the Federal Open Market Committee (FOMC) concluded its two-day meeting with a statement that declared "it will soon be appropriate to raise the target range for the federal funds rate," citing inflation well above its 2 percent target and a strong job market.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
