Comments from the chairman in a speech Wednesday at the Brookings Institution in Washington likely cement expectations for the Fed to raise interest rates by 50 basis points when they meet Dec. 13-…
| Bloomberg
Policy-sensitive 2-year Treasury yields fell on Powell’s remarks, erasing increases on the day, and the S&P 500 index reversed losses to trade higher. The dollar slipped in value against major rivals on foreign-exchange markets. Regarding rate hikes, “we think that slowing down at this point is a good way to balance the risks” to the economy from inflation and slower growth, Powell said.
“It will take substantially more evidence to give comfort that inflation is actually declining,” he said. “The truth is that the path ahead for inflation remains highly uncertain.”
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