Fed may weigh four rate hikes in 2018

Powell's first testimony as Fed chair strikes an upbeat note

Jerome Powell opened the door to the Federal Reserve raising interest rates four times this year as he acknowledged stronger economic growth may prompt policy makers to rethink their plan for three hikes.

“My personal outlook for the economy has strengthened since December,” the Fed chairman said on Tuesday in response to a question about what would cause the central bank to step up the pace of policy tightening. He then listed four events that are causing him to revise up his outlook. “We’ve seen continuing strength in the labour market,” Powell told the House Financial Services Committee in his first