By Giuseppe Macri
Federal Reserve Chair Jerome Powell is pointing to policymakers’ latest forecasts showing one more interest rate increase this year amid the fallout from several recent mid-sized bank failures.
Rep. Kevin Hern (R-Okla.), chairman of the Republican Study Committee, put the question to Powell during a private meeting with the group Wednesday.
The Fed chief was essentially recapping what policymakers made clear last week when they released new interest-rate forecasts, known as the Fed’s dot plot, following their two-day meeting in Washington.
“The most recent one that they’ve acknowledged is they anticipate one more rate hike this year,” Hern told reporters …
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