Jay Powell, chair of the Federal Reserve, on Wednesday refused to rule out a more aggressive string of interest rate rises than markets had been expecting as he all but confirmed the first increase would be implemented in March.
Powell dodged a question on whether the Fed could raise rates at every subsequent meeting this year — which would amount to seven increases in 2022 — instead saying that the central bank would be “humble and nimble” and “guided by the data”.
Last month, the central bank’s policymakers released projections that implied just three rate rises this year.
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