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Fed 'of a mind' to raise rates at March meeting: Powell

Updated: 2022-01-27 04:30

Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen as a trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, December 15, 2021. [Photo/Agencies]

WASHINGTON - Federal Reserve Chair Jerome Powell hinted strongly on Wednesday that the US central bank was ready to increase its lending rate at its next meeting for the first time since the start of the pandemic.

"I would say the committee is of a mind to raise the federal funds rate at the March meeting, assuming that conditions are appropriate for doing so," Powell said in an unusually frank comment following the two-day meeting of the Fed's policy committee.


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