Fed's Powell: If we need to hike beyond 25 bps, we will

• There is an obvious need to move expeditiously to more neutral level and more restrictive levels if needed to restore price stability
• Action on balance sheet could come as soon as May meeting but not decision has been made
• Ukraine war may have significant effects on the world economy but the magnitude and persistence is highly uncertain
• Fed's policy actions will help bring down inflation near 2% over the next three years
• History provides grounds for optimism that Fed can achieve a soft landing
• Fed projections can become outdated quickly at times like these with events developing rapidly
• We are headed once again into more covid-related supply disruptions from China

The US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term is higher on these comments. The implied odds of a 50 basis point hike are currently at 60% for the May 4 meeting compared to 52% beforehand.