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6/16, 8:58 PM (Source: TeleTrader)
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Premature to discuss interest rate lift-off - Powell

Federal Reserve Chair Jerome Powell stated on Wednesday that he believes it is too early to discuss a lift-off on interest rates.

Speaking at a press conference following the Fed's Open Market Committee Meeting, Powell commented that dot plots do not represent a "great forecast" on future moves of interest rates.

Additionally, Powell noted that the Fed is basing its decision on interest rates mostly on labor and market conditions and that the current focus of the bank is clearing the path to asset purchases.

Breaking the News / OL