Fed Chair Powell Sticks to Gradual Hike Path

Federal Reserve Chairman Jerome Powell on Friday defended the U.S. central bank’s push to raise interest rates as healthy for the economy and signaled more hikes were coming despite President Donald Trump’s criticism of higher borrowing costs.



The Fed, which began to tighten monetary policy in 2015, has raised rates twice this year and is widely expected to do so again next month and in December.

Speaking at a research symposium in Jackson Hole, Wyoming, Powell said he wanted to “explain today why my colleagues and I believe that this gradual process … remains appropriate.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza