Powell says ‘no decision’ on the Fed’s next move on rates

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank’s policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation. Powell had made a similar comment on Tuesday to a Senate panel but had not included the caveat that “no decision has been made.” Powell’s more nuanced remarks Wednesday appeared to be an effort to quell any assumption that the Fed has already decided to raise rates more aggressively, based on a recent string of data that pointed to strong economic growth and still-high inflation.