73.6 F
New York
Monday, June 27, 2022

Fed Chair Powell To Confirm Hawkish Turn, Tee-Up 2022 Rate Hikes

The Federal Reserve will likely step-up its fight against the fastest inflation in four decades Wednesday, while potentially hinting at near-term rate hikes, even as investors continue to worry that an over-reaction could snuff-out this year’s impressive equity market rally.

Federal Reserve Chairman Jerome Powell paired his re-nomination as the country’s top central banker last month with the most hawkish turn of his four-year term, telling Senate lawmakers it was time “to consider wrapping up the taper of our asset purchases … perhaps a few months sooner” as inflation pressures accelerate and the economy continues to recover. 

Source

Related Articles

Latest Articles