Federal Reserve Chairman Jerome Powell reiterated Tuesday that continued interest rate increases will be appropriate and that the “disinflationary process” has begun.
Powell’s comments come on the back of last week’s 0.25 percentage point interest rate hike, followed by Friday’s big jobs number. Markets have been anticipating that the central bank will pause or even cut rate hikes soon, and investors and economists will be scrutinizing Powell’s words for clues on the central bank’s latest thinking.