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Fed's Powell says tighter credit conditions ease rate hike pressure

Published 05/19/2023, 11:33 AM
Updated 05/19/2023, 11:36 AM
© Reuters. FILE PHOTO: Federal Reserve Chair Jerome Powell holds a press conference in Washington, U.S, May 3, 2023. REUTERS/Kevin Lamarque/

NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell said Friday that the aftereffects of recent banking sector troubles takes some pressure off the U.S. central bank to raise rates.

Tighter credit conditions mean that "our policy rate may not need to rise as much as it would have otherwise to achieve our goals," Powell said at a central bank conference in Washington. He spoke as the end of the Fed's rate hike cycle has come into view and markets and officials are debating whether more rate increases are needed to lower inflation.

Latest comments

these people need to get a real job where they live in reality. we're in greedflation nothing more. so many earnings CEOs explain they raised prices to accomplish higher gains. nobody can be this blind. their only function is to milk the working class and destroy any negotiation powers over work they have, nothing more.
please describe greedflation. your description of inflation is seriously flawed. we are in this situation because of years of artificially low interest rates
you must act before it's too late
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