Fed Chair Powell notes ‘highly uncertain’ Ukraine impact, but says rate hikes are still coming via /r/wallstreetbets #stocks #wallstreetbets #investing


Fed Chair Powell notes ‘highly uncertain’ Ukraine impact, but says rate hikes are still coming

https://www.cnbc.com/2022/03/02/fed-chair-powell-notes-highly-uncertain-ukraine-impact-but-says-rate-hikes-are-still-coming.html

“The near-term effects on the U.S. economy of the invasion of Ukraine, the ongoing war, the sanctions, and of events to come, remain highly uncertain,” he added. “Making appropriate monetary policy in this environment requires a recognition that the economy evolves in unexpected ways. We will need to be nimble in responding to incoming data and the evolving outlook.”

“We will use our policy tools as appropriate to prevent higher inflation from becoming entrenched while promoting a sustainable expansion and a strong labor market,” he said. “We have phased out our net asset purchases. With inflation well above 2 percent and a strong labor market, we expect it will be appropriate to raise the target range for the federal funds rate at our meeting later this month.”

First Hike looking to come this month.

Submitted March 02, 2022 at 06:28PM by FedTendies
via reddit https://ift.tt/lznEiCB