Breaking: Fed Chair Powell Says U.S. Not In Recession Currently

Federal Reserve Chair Jerome Powell said it could be appropriate to further increase the interest rate going forward. Powell said another unusually large increase could be appropriate at the next FOMC meeting. The Fed chair said the committee would not have hesitant to a 100 basis point increase in interest rate if needed. In today’s meeting, that was not the case and the committee decided for a 75 basis point increase, he added.