Morgan Stanley economists said Fed Chairman Jerome Powell signaled the potential for a return to a half-point rate hike at the March meeting, depending on data.
Morgan Stanley economists said Federal Reserve Chairman Jerome Powell signaled a potential return to a half-point rate hike at central bank's March meeting, depending on the strength of incoming economic data. Powell spoke before the Senate Committee on Banking, Housing and Urban Affairs Tuesday morning in the first of two days of Congressional testimony.
"Chair Powell's assessment of the economic outlook acknowledged that higher rates are impacting interest-sensitive components of the economy, including housing, but that there has been a concerning reacceleration in activity in January, partly reversing the softening trends that we had seen in the data just a month ago,'" they wrote. This also means that Friday's jobs report is especially important.
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