Federal Reserve Chair Jerome Powell appeared to confirm on Thursday expectations that the Fed will deliver a third straight 75 basis point hike this month.
Market prices on derivatives that allow traders to speculate on the size of Fed hikes or cuts now imply an 86 percent chance that the Fed will raise its target rate by three-quarters of a percentage point at its two-day meeting beginning September 20.
By most accounts, he did not. Although he spoke in a more relaxed manner and less-structured setting than the brief remarks he delivered nearly two weeks ago in Jackson Hole, Wyoming, Powell reiterated his hawkish message from the monetary policy conference.
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