The chairman of the Fed, Jerome Powellin previewing his opening remarks in Wednesday’s testimony before the US Congress, said that expects it to be appropriate to raise interest rates at the next meeting in March.
Powell noted that the Fed is monitoring the situation in Ukrainewhose impact on the US economy is “highly uncertain”.
The president reiterated that the Fed must be “nimble” in responding to incoming economic data and changing economic prospects and reiterated his call for balance sheet reduction to begin after rate hikes have begun.
Powell did not mention anything about the size of the next rate hike in March or later. The money market is pricing in the Fed raising interest rates by 25 basis points.
Source: Fx Street
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