Fed’s Powell: Strong case for gradual rate hikes

Jerome H. Powell, Chairman of the Board of Governors of the Federal Reserve System, is now speaking at the ECB’s panel titled ‘Price and wage setting in advanced economies.’

Key quotes (via Reuters)

  • Strong case for gradual rate hikes.
  • Flatter Phillips Curve suggests impact on inflation of unemployment below natural rate for extended period ‘may not be large.’
  • Seeing US economy perform ‘very well.’
  • Moderate wage growth suggests jobs market is ‘not excessively tight.’
  • Expects job market to strengthen further.

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