FINANCE BRIEFING: GOP Pushes Powell to Forecast Future Rate … – Bloomberg Tax

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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