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Fed's Powell: 75 basis point rate hike not being 'actively considered'

Published 05/04/2022, 03:00 PM
Updated 05/04/2022, 03:09 PM
© Reuters. FILE PHOTO: Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee in Washington, U.S., March 3, 2022. Tom Williams/Pool via REUTERS

(Reuters) - Federal Reserve Chair Jerome Powell on Wednesday said central bank officials are not "actively" considering a rate hike of three-quarters of a percentage point at coming monetary policy meetings.

© Reuters. FILE PHOTO: Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee in Washington, U.S., March 3, 2022. Tom Williams/Pool via REUTERS

"A 75 basis point increase is not something that the committee is actively considering," Powell said in response to a question at a press conference following the Fed's latest meeting, at which it decided to lift rates by half a percentage point and signaled more increases are coming.

Interest rate futures markets had been assigning a significant probability to the Fed lifting rates by three quarters of a point at its next meeting in June.

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