Powell: We haven’t made a decision on the extent of interest rate increases.

Federal Reserve Chairman Jerome Powell stated during the March meeting that they have not yet made a decision on the extent of the almost certain interest rate hike. Powell spoke at the second-day presentation of the Semiannual Monetary Policy Report to Congress.

Powell said, “We have not made any decisions about the March meeting, and we won’t until we see further data.”

The Fed Chairman added, “We are not on a preset course. Incoming data will help determine whether there is a need for a 25-basis-point or a 50-basis-point rate increase at the next meeting.”

The Fed’s interest rate currently stands at 0.45-0.75%.

The Fed’s interest rate meeting this month will begin on March 21 and the results will be announced on March 22.

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