US Federal Reserve (Fed) Chairman Jerome Powell said that a 50 basis point increase in interest rates will be “on the table” at the Fed’s meeting on May 3-4.
In a panel organized by the International Monetary Fund (IMF), Fed Chairman Powell made evaluations about the high inflation in the USA and the interest rate hike expected by the markets.
Powell said it would be appropriate for the Fed to “move a little faster” as inflation is well above the Fed’s 2 percent target. He said that a 50 basis point rate hike would be “on the table” at the Fed’s meeting on May 3-4.
Powell also said that Fed is ready to use all its tools to reduce inflation.
