• Fed's Powell says Fed is trying to take the 'middle ground' on raising rates

Market news

22 March 2018

Fed's Powell says Fed is trying to take the 'middle ground' on raising rates

  • Says only gradual upward pressure on inflation despite fall in unemployment

  • Balance sheet reduction program is proceeding smoothly, does not intend to alter

  • Today's decision to raise rates another step in gradual process

  • The shortfall of inflation reflects some unusual price declines from last year

  • Inflation may be above or below 2 percent at times

  • FOMC expects that the job market will remain strong

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