FED decides to gear up: Critical statement regarding monetary policy from Chairman Powell
US Central Bank (Fed) Governor Jerome Powell has pointed to the rapid tightening in monetary policy, saying that a 50 basis point rate hike may be required at the beginning of May.
Fed Chairman Jerome Powell said the central bank (FED) would consider a 50 basis point rate hike at its policy meeting on May 3-4, pointing out that monetary policy woud be tightened with more aggressive steps.
Powell, who attended the International Monetary Fund (IMF) meeting, said during a speech addressing the global economy that it would be appropriate to move faster given that inflation in the United States was running at about three times the Fed’s 2 percent target.
