Powell says the Fed could hike rates by 0.75 percentage point again in July

Federal Reserve Chair Jerome Powell.
Xinhua News Agency | Xinhua News Agency | Getty Images

Federal Reserve Chair Jerome Powell said Wednesday he expects the central bank to raise interest rates by a similar magnitude again at the next policy meeting in July.

“From the perspective of today, either a 50 basis point or a 75 basis point increase seems most likely at our next meeting,” Powell said a press conference following the central bank’s policy decision on Wednesday. “We anticipate that ongoing rate increases will be appropriate.”

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