{"id":82650,"date":"2023-11-09T14:56:27","date_gmt":"2023-11-09T19:56:27","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/federal-reserve-wont-hesitate-to-raise-rates-again-if-necessary-powell-says\/"},"modified":"2023-11-09T14:56:31","modified_gmt":"2023-11-09T19:56:31","slug":"federal-reserve-wont-hesitate-to-raise-rates-again-if-necessary-powell-says","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=82650","title":{"rendered":"Federal Reserve \u2018Won\u2019t Hesitate\u2019 To Raise Rates Again If Necessary, Powell Says"},"content":{"rendered":"
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Topline<\/h2>\n

The Federal Reserve is far from certain that its war on inflation is over and is willing to hike interest rates past their current 22-year high if necessary, the central bank\u2019s chairman Jerome Powell said Wednesday, dousing the stock market\u2019s recent surge spurred largely by optimism about the direction of monetary policy. <\/strong><\/p>\n

Key Facts<\/h2>\n
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The Fed is \u201cnot confident\u201d its current policy is \u201csufficiently restrictive\u201d to bring down annual inflation to its 2% long-term target, Powell said in prepared remarks at an International Monetary Fund panel.<\/p>\n<\/p><\/div>\n

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Powell said the bank \u201cwill not hesitate\u201d to raise the federal funds rate again, adding further progress in slowing price stability is \u201cnot assured.\u201d<\/p>\n<\/p><\/div>\n

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Equity markets priced in Powell\u2019s commentary as hawkish.<\/p>\n<\/p><\/div>\n

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The S&P 500 fell about 0.3% immediately after the publication of his speech, falling to a 0.7% loss on the day, while 10-year U.S. bond yields spiked 13 basis points Thursday as traders priced in a higher likelihood of more tightening from the Fed.<\/p>\n

<\/fbs-ad>\n <\/div>\n<\/div>\n

Key Background<\/h2>\n

Powell\u2019s remarks are his first public ones on monetary policy since last Wednesday, when he spoke to reporters following the Fed policy-setting committee\u2019s decision to hold the federal funds rate steady and seemingly indicated the Fed is satisfied with the fruits of its rate hiking. Since last March, the Fed bumped rates from 0% to 0.25% to 5.25% to 5.5%. Inflation has declined, with the consumer price index down from a four-decade peak of over 9% last summer to 3.7% last month.<\/p>\n

Tangent<\/h2>\n

Prior to Thursday, the S&P rose for eight consecutive sessions, jumping more than 6%, thanks in large part to hopes that Powell and company would ease the heavy pressure of higher rates on stocks. \u201cThe market seems to be convinced that the Fed is ready to declare victory on its campaign to quell inflation,\u201d LPL Financial strategist Quincy Krosby wrote Thursday, explaining the reasoning for the strong gains in days leading up to Powell\u2019s latest comments.<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Topline The Federal Reserve is far from certain that its war on inflation is over and is willing to hike interest rates past their current 22-year high if necessary, the central bank\u2019s chairman Jerome Powell said Wednesday, dousing the stock market\u2019s recent surge spurred largely by optimism about the direction of monetary policy. Key Facts […]<\/p>\n","protected":false},"author":1,"featured_media":82651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-82650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nFederal Reserve \u2018Won\u2019t Hesitate\u2019 To Raise Rates Again If Necessary, Powell Says | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline The Federal Reserve is far from certain that its war on inflation is over and is willing to hike interest rates past their current 22-year high if\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=82650\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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