FOMC - Federal Reserve's Powell: Faster removal of policy accommodation is appropriate

"It is appropriate to move more quickly" than in the last tightening cycle to remove monetary accommodation, Federal Reserve Chair Jerome Powell said during an IMF debate on the global economy. 50 basis-point hikes are "on the table," particularly for the May meeting, he added. "Many on the (FOMC) committee" at the March meeting were considering one or more 50-bps hikes this year, he added. Powell declined to say where he weighed in in that discussion. Breaking... check back for updates. Previously (April 18), St. Louis Fed President James Bullard, perhaps the Fed's biggest hawk, said the fed funds rate should be pushed up to at least 3.5% by the end of the year.

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Federal Reserve's Powell: Faster removal of policy accommodation is appropriate