Federal Reserve Chairman Jerome Powell.
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Federal Reserve Chairman Jerome Powell on Wednesday said the central bank could raise interest rates at a similar rate at its next policy meeting in July.
“From today’s perspective, an increase of 50 basis points or 75 basis points seems very likely at our next meeting,” Powell said in a news conference after the policy decision. central bank. “We anticipate that the ongoing rate hike is appropriate.”
“The pace of those changes will continue to depend on incoming data and the evolving outlook for the economy,” Powell said. “Clearly, today’s 75 basis point gain is an anomaly and I don’t expect moves of this scale to be universal.”
The central bank on Wednesday raised its benchmark interest rate by 3/4 percentage point to a range of 1.5%-1.75%, the steepest increase since 1994.
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