U.S. Federal Reserve Chair Jerome Powell said on Wednesday that an interest rate hike does not appear to be a likely outcome as the Fed works to bring inflation down to its 2% target.
“You don’t rule things completely in or out in this world. That doesn’t appear to be a likely outcome,” Powell told a news conference when asked if he could rule out a rate increase as the Fed slows the pace of future cuts.
“I think we’re 4.3%, but that’s meaningfully restrictive, and I think it’s a well calibrated range for us to continue to make progress on inflation while keeping up a strong labor market,” he added.
