TechFlow news — On May 18, Federal Reserve Chair Powell stated that there is broad support within the FOMC for raising interest rates by 50 basis points at each of the next two meetings. Markets are pricing in expectations of a series of rate hikes, and this will be put on the agenda if the economy performs as the Fed expects. Powell also said that he does not know where the neutral interest rate lies, but if it becomes necessary to go beyond the neutral rate, the Fed would not hesitate. The Fed is moving quickly to raise rates to a more normal level, which is expected to be achieved by the fourth quarter.
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