Fed chief Powell signals bigger rate hikes if data stay strong
Federal Reserve Chair Jerome Powell told the Senate Banking Committee that continued robust data and high inflation could justify larger rate increases and a higher terminal rate than previously anticipated. He floated a half-point lift at the next meeting March 21-22, as markets priced in further tightening beyond 5.1 percent.
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Stocks fall on rate hike fears in volatile market
The Fed signals higher rate hikes could come if inflation remains strong, sending major indices lower. The S&P 500 slid 1.5 percent, the Dow dropped 574 points, and the Nasdaq fell 1.2 percent as traders price in higher policy rates and possible recession risk.
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Mixed signals alter view of the economy’s soft landing
After weeks of easing inflation and steady growth, February data sparked rethinking that the Fed may keep rates high longer. Analysts warn higher borrowing costs could raise recession risks, with layoffs and failures possible if inflation proves stickier than hoped.
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