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Powell revives hike fears, says Fed not confident rates sufficiently restrictive By Investing.com

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AuthorYasin EbrahimEconomy63Investing.com -- Federal Reserve Chairman Jerome Powell said Thursday the Fed wasn't confident yet they had reached a sufficiently restrictive level on monetary policy to bring inflation down to target, suggesting further rate hikes cannot be ruled out.&nbsp; &nbsp;"The Federal Open Market Committee (FOMC) is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2 percent over time; we are not confident that we have achieved such a stance," Powell said in opening remarks Thursday during a&nbsp;policy panel at the 24th Jacques Polak Annual Research Conference, hosted by the International Monetary Fund.&nbsp;The fed chief acknowledged that U.S. inflation had come down over the past year but said it remains "well above our 2 percent target," Powell said, but signaled the Fed is far from ready to accept that inflation is on a sustainable path lower.&nbsp;Inflation "has given us a few head fakes," he added.In a dent to recent optimism that the Fed is set to draw the curtain on its hiking cycle, Powell said that "if&nbsp;it becomes appropriate to tighten policy further, we will not hesitate to do so."The Fed chief, however, balanced his remarks by reiterating that the Fed&nbsp;would continue to "move carefully" on future policy decisions.A careful approach would allow the Fed to "address both the risk of being misled by a few good months of data, and the risk of overtightening," he added.The reminder that the Fed's hiking cycle remains alive forced traders to&nbsp;price in a further delay in rate cuts, with the first cut now expected in June next year compared with an earlier forecast for cuts to begin in May.&nbsp;Following the remarks, took a leg lower as Treasury yields held onto their gains.&nbsp;Powell revives hike fears, says Fed not confident rates sufficiently restrictive63Comments (63)63Add a CommentComment Guidelines&nbsp;I have read Investing.com's comments guidelines and 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AuthorYasin EbrahimEconomy63Investing.com -- Federal Reserve Chairman Jerome Powell said Thursday the Fed wasn't confident yet they had reached a sufficiently restrictive level on monetary policy to bring inflation down to target, suggesting further rate hikes cannot be ruled out.&nbsp; &nbsp;"The Federal Open Market Committee (FOMC) is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2 percent over time; we are not confident that we have achieved such a stance," Powell said in opening remarks Thursday during a&nbsp;policy panel...

Powell revives hike fears, says Fed not confident rates sufficiently restrictive By Investing.com

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