Fed’s Powell: "Ultimate level of interest rates will be higher than previously expected"

by Calculated Risk on 11/02/2022 04:28:00 PM

A quick note … this was the key sentence from Fed Chair Powell’s press conference: “the ultimate level of interest rates will be higher than previously expected”.

Powell also said that “At some point it will be appropriate to slow the rate of increases”, but he said that might be in December or in 2023.

Overall his comments were hawkish.