: Powell calls forecast of two more rate hikes this year ‘a pretty good guess’

Fed Chairman Jerome Powell on Wednesday noted that there is strong support among his colleagues for two additional 25 basis point rate hikes this year. “A big majority believes [they will] raise rates twice this year. You know, I think that’s a pretty good guess of what will happen, if the economy performs as expected,” Powell said during testimony to the House Financial Services committee. Powell added that he wouldn’t describe the decision to hold rates steady last week as a “pause.”

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