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Powell: Further rate hikes may be needed, and a GDP above potential levels can justify the hikes.

BlockBeats News, November 2nd. Fed Chairman Powell said, "The Federal Reserve is committed to pursuing a policy stance that is sufficiently restrictive, which may require further rate hikes. Currently, financial conditions have tightened significantly, and we are uncertain whether the policy is sufficiently restrictive. Evidence that GDP is higher than potential levels can justify rate hikes. It is incorrect to assume that it will be difficult to raise rates again after a pause." Powell added, "It is difficult to determine how many rate hikes will result from tightening financial conditions, or how many potential rate hikes this will translate into." (Jin10)

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