Washington, DCCNN — Federal Reserve Chair Jerome Powell doubled down Wednesday on the hawkish view that the central bank isn’t done tamping down inflation, and could even implement consecutive rate hikes at its upcoming monetary policy meetings.
“If you look at the data over the last quarter, what you see is stronger than expected growth, a tighter than expected labor market and higher than expected inflation,” Powell said during a central banker panel hosted by the European Central Bank in Sintra, Portugal. “That tells us that although policy is restrictive, it may not be restrictive enough and it has not been restrictive for long enough.”
Continued Article: https://edition.cnn.com/2023/06/28/economy/powell-ecb-panel/index.html
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