Powell has been careful not to tip his hand, along with New York Fed President John Williams, Richmond Fed President Tom Barkin, San Francisco Fed President Mary Daly, Chicago Fed President Austan Goolsbee, and Fed Governor Chris Waller, who have also signaled to keep their options open. “Inflation is not as low as they want, but heading in the right direction,” Luke Tilley, chief economist for Wilmington Trust, said in an interview. Last month, the Fed raised its benchmark interest rate to a target range of 5%-5.25%, the highest since 2007.
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