Reuters Insider - Further rate hikes best way to protect the recovery - Powell

Capital group

27/08/2018 02:31

Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=0_88qbcwft&referenceId=tag:reuters.com,2018:newsml_OV8UJSH3F_930&pageId=ReutersNews
Source: Reuters Insider

Description: Steady rate hikes are the best way to protect economic recovery,
job growth, and keep inflation under control, said Fed Chair Jerome Powell.
Fred Katayama reports.
Short Link: https://reut.rs/2BJPJEn

Video Transcript:

Fed Chair Jerome Powell said steady rate hikes are the best way to protect
economic recovery, job growth, and keep inflation under control. Powell spoke
at the three-day gathering of leading central bankers in Jackson Hole,
Wyoming. His speech comes just days after President Donald Trump had said that
he was not thrilled with the Fed raising rates as he tries to stimulate
economic growth. Fort Pitt Capital Group Portfolio Manager Kim
Forrest. br/  br/ Well, I think he's striking the right balance between
acknowledging that inflation could pop up, that it's the Fed's responsibility
to try to squelch it. But also he needs to continue to raise rates and not
squelch growth. So it's a tight rope that he's walking here, and it seems like
he understands that and is able to kind of balance those two concepts all at
the same time. br/  br/ The S&P 500 rose to an all-time high after his
remarks. The Fed is expected to raise rates again in September and possibly in
December, and continue with the first two normalization into 2019