Fed Chair Powell says he would want to see persistent rise in inflation before hiking rates again

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Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on Wednesday, June 19, 2019.

Andrew Harrer | Bloomberg | Getty Images

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Federal Reserve Chairman Jerome Powell said on Wednesday that he’d prefer to let inflation rise and hold above the central bank’s target before considering future interest rate hikes.

“In order to move rates up, I would want to see inflation that’s persistent and that’s significant,” Powell said from a press conference in Washington. “A significant move up in inflation that’s also persistent before raising rates to address inflation concerns. That’s my view.”

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