Fed Chairman Jerome Powell touched on the US interest rate policy in his statement a short time ago.
In a statement, Powell reiterated Wednesday's statement, reaffirming the central bank's intention to raise interest rates further this year.
In his speech, Powell said that he expects the Fed to raise interest rates two more times this year.
He said a "strong majority" of the Fed's policy-making committee thought there was "a little more way to go" in rate hikes. He said it would be "perfect" for the labor market to reach a better balance without increasing unemployment, but he also acknowledged that this was no guarantee of an outcome.
Powell also explained why the Fed kept interest rates at its last meeting in June and said he wanted to give himself more time to make decisions based on incoming data.
Concerning the banking industry, Powell touched on the possibility of raising capital for banks with assets under $100 billion.
*Not investment advice.
