Powell says no decision has been made on potential size of rate hike in March

MARKET_WATCH Finance

The Federal Reserve has not made any decision on the size of a potential interest rate hike later this month, Fed Chairman Jerome Powell said Wednesday. “We have not made any decision about the March meeting. We’re not going to do that until we see the additional data,” Powell said, in testimony to the House Financial Services panel. The larger point, Powell said, is that the Fed is not on a “pre-set path.” “

 

We will be guided by the incoming data and the evolving outlook,” he said. Powell listed the February jobs report, to be released Friday, as a key piece of data, along with consumer and wholesale inflation data that will be released before the Fed interest-rate committee’s March 21-22 meeting. The Fed chair also pointed to the January job openings and quits data released earlier Wednesday. 

 

The data showed some modest easing in tight labor markets but progress is slow, economists said. Read: Job openings dropped to 10.8 million in January from 11.2 in the prior month. 

 

On Tuesday, Powell surprised markets when he opened the door to possibly accelerating the pace of interest rate hikes to a 50 basis point increase at the March meeting. That would reverse the Fed’s strategy to raise its policy interest rate in quarter-percentage point increments. Officials had backed this policy as the best way to probe how high rates need to go without causing too much damage to the economy. Powell also said the Fed is prepared to raise interest rates higher than previously estimated due to strong economic data and inflation readings. U.S. stocks SPX, -0.02% DJIA, -0.33% were volatile in early trading on Wednesday after falling in the prior session on Powell’s comments about the March meeting. Yields on the 2-year Treasury note TMUBMUSD02Y, 4.998% moved down to 4.99% on Wednesday after topping 5% for the first time since 2007 in the prior trading session.

 

 Source : [Powell says no decision has been made on potential size of rate hike in March](www.marketwatch.com/story/powell-says-no-decision-has-been-made-on-potential-size-of-rate-hike-in-march-36c8296e?mod=newsviewer_click) undefined - Market / March 08, 2023

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.