Fed, Powell on rates: ‘appropriate to raise faster, squeeze 50bp on table in May meeting’

Jerome Powell’s Fed is increasingly determined to fight runaway US inflation. Powell himself said it, speaking at an event organized by the IMF (International Monetary Fund):

“It is appropriate, in my view, to move a little faster” in the rate hike cycle, the Fed helmsman said, adding that “I would say that a 50 basis point squeeze will be on the table at the next meeting. May”.

“In the previous meeting, many (members) of the commission considered appropriate one or more hikes of 50 basis points”, added Powell, recalling that “we need price stability to ensure a solid labor market”.

“It is essential to restore price stability and in the United States we have very strong growth and high inflation”, remarked the central banker.