Federal Reserve Chairman Jerome Powell made it clear that the central bank's target is likely to go up by a half a percentage point at its next meeting. He also signaled that he is open to similarly large moves after that.
“It is appropriate in my view to be moving a little more quickly,” Powell said Thursday.
Treasury yields jumped and stocks sank on the news. This itself is a form of financial tightening and helps the Fed, so it was probably Powell's intended result.
– Alex Marlow & John Carney
Breitbart News Network