Fed backs more rate hikes - says economy growing stronger

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Stocks rallying this morning on Fed Testimony...


Powell backs more rate hikes as economy growing 'considerably stronger'

The U.S. economy is running at a fast enough pace to justify continued interest rate increases, Federal Reserve Chairman Jerome Powell said Tuesday.

Powell is delivering his semiannual testimony to Congress this week, starting with an appearance Tuesday before the Senate Committee on Banking, Housing and Urban Affairs.
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Overall, we see the risk of the economy unexpectedly weakening as roughly balanced with the possibility of the economy growing faster than we currently anticipate," Powell said

https://www.cnbc.com/2018/07/17/pow...as-economy-growing-considerably-stronger.html