Powell's Upbeat Comments on US Growth Intensified Rate Hike Hopes

28 February 2018 28 February 2018

JeremyCockrell

Fed Chair Jerome Powell's first Congressional testimony, before the House Finance Services Committee, turned out more hawkish than expected. His upbeat assessment on the economic growth outlook and the mention of an "overheated" economy have intensified speculations of three or more rate hikes this year. Equities pulled back with DJIA and S&P 500 indices slipping -1.16% and -1.27% respectively.