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

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.” “The pace of those changes will continue to depend on incoming data and evolving outlook on the economy,” Powell said. “Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common.”
Source: CNBC