WASHINGTON, D.C. — Federal Reserve chair Jerome Powell moved markets on Tuesday in his first appearance before lawmakers on Capitol Hill since his confirmation.
In response to questions from Rep. Carolyn Maloney (D-NY), Powell hinted that more aggressive action on raising interest rates from the Fed could be warranted this year.
“At the December meeting, the median [FOMC] participant called for three rate increases in 2018,” Powell said. “Now since then, what we’ve seen is incoming data that suggests a strengthening in the economy.”
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