Fed’s Powell says no need to hike interest rates now — officials should look past higher energy prices
Federal Reserve Chair Jerome Powell said Monday that policymakers should look past rising energy prices sparked by the war on Iran, adding that there is no need to hike interest rates now.
In one of his last scheduled public appearances as chairman before his term expires in May, Powell told Harvard University students during a Q&A that officials should look beyond energy supply shocks, assuming they create only a short-term impact, and focus on stable prices and low unemployment.
“Inflation expectations do appear to be well anchored beyond the short term, but nonetheless, it’s something we will eventually maybe face the question of what to do here,” Powell said Monday.
