Fed's Powell: Possible fed could raise rates beyond December forecast
Reuters
Published Feb 01, 2023 02:56PM ET
NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday he is not fully sure where the central bank will stop with rate rises as it presses forward with its efforts to cool inflation.
"There is more work to do" and the Fed has not decided where it will stop rate rises, with the possibility the Fed will go above the 5.1% federal funds rate it penciled in as a terminal rate in its December forecasts, he said in a press conference following the Federal Open Market Committee meeting.
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Written By: Reuters
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