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Powell Says Fed May Return To Consecutive Rate Hikes

Posted on AllSides June 28th, 2023
From The Center
MANDEL NGAN/AFP via Getty Images

Regular interest hikes could be back again if inflation persists, the chairman of the Federal Reserve said Wednesday.

"I wouldn’t take moving in consecutive meetings off the table at all,” Jerome Powell said at the annual ECB Forum on Central Banking in Sintra, Portugal.

The Fed has raised interest rates 10 times since March 2022 in its ongoing battle against inflation, to a 16-year high of 5% to 5.25%. The central bank paused the hikes at its June 14 meeting, saying it wanted to gather more data on the effects...

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