Federal Reserve Chair Jerome Powell softened his tone slightly during a second day of congressional testimony, saying policymakers will wait for fresh jobs and inflation data before deciding how much to raise interest rates later this month.
The Fed chief repeated his message from Tuesday that the U.S. central bank is likely to take rates higher than previously anticipated and that it could move at a faster pace if economic data keeps coming in hot. But he diverged slightly from his prepared remarks to qualify the statement.
“We have not made any decision about the March meeting,” Powell told the House Financial Services committee on Wednesday.
