Fed Chair Jerome Powell said in an IMF discussion that with inflation running three times the 2% target, “it is appropriate to be moving a little more quickly.” He added that “fifty basis points will be on the table for the May meeting.”
“We have had an expectation that inflation would peak around this time and come down over the course of the rest of the year and then further,” Powell said. “These expectations have been disappointed in the past…We are not going to count on help from supply side healing. We are going to be raising rates.”
