According to Jerome Powell, officials discussed two-way interest-rate risks on March 19, but most participants do not view further rate hikes as the most likely path.
Fed Chair Jerome Powell said most participants do not see rate hikes as the base case, while noting that officials discussed two-way risks for interest rates on March 19. He added that the possibility of the next move being a hike was mentioned during those discussions. This updates the policy outlook by indicating that although further tightening was considered as a risk scenario, it is not the central expectation among officials.