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1/26, 8:53 PM (Source: TeleTrader)
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FOMC of a mind to raise rates in March - Powell

United States Federal Reserve's Federal Open Market Committee (FOMC) is "of a mind to raise rates at the March meeting," Fed Chair Jerome Powell revealed on Wednesday.

The potential decision will depend on the conditions for doing so being met or not, he clarified at a press conference.

The Fed will monitor global risks before the March meeting, but policymakers think that "the underlying strength" of the US economy should "show through quickly" after "some softening from [the] Omicron" coronavirus variant, Powell added.

Baha Breaking News (BBN) / MS