Federal Reserve Chair: The Central Bank Would Begin ‘Carefully’ Raising Interest Rates at Its Upcoming March Meeting

TRANSCRIPT:

POWELL: "I’m inclined to propose and support a 25 basis points rate hike. Those of us on the committee have an expectation that inflation will peak and begin to come down this year. And to the extent inflation comes in higher or is more persistently high than that, then we would be prepared to move more aggressively by raising the federal funds rate by more than 25 basis point at a meeting or meetings. The ultimate economic effects of the war, and all of the sanctions and events yet to come, are just very highly uncertain and we need to understand that."