WSJ Fed whisperer: "Powell provided a clear signal" on a 50bp rate hike at the Dec meeting<p>This from Nick Timiraos at the Wall Street Journal, who is said to be a mouthpoice for Fed Chair Powell, when needed. </p><p>He's worth paying attention to. </p><p>Timiraos reinforcing the message the market has taken from Powell's speech on Wednesday.</p><p>ICYMI, check out the wrap and the link to Powell for more:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-fed-powell-sooths-the-market-w-visions-of-a-soft-landing-20221130/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap:Fed Powell soothes the market w/ visions of a soft landing</a></li></ul><p>Timiraos:</p><p>Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation.Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would decline toward its 2% goal.<a href="https://www.wsj.com/articles/jerome-powell-signals-fed-prepared-to-slow-rate-rise-pace-in-december-11669833043" target="_blank" rel="nofollow">Link to the Journal piece is here</a> for more (gated) </p>
This article was written by Eamonn Sheridan at forexlive.com.
Source: WSJ Fed whisperer: "Powell provided a clear signal" on a 50bp rate hike at the Dec meeting (https://forexlive.com/centralbank/wsj-fed-whisperer-powell-provided-a-clear-signal-on-a-50bp-rate-hike-at-the-dec-meeting-20221201/https://forexlive.com/centralbank/wsj-fed-whisperer-powell-provided-a-clear-signal-on-a-50bp-rate-hike-at-the-dec-meeting-20221201/)
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