Jerome Powell actually said...

The strong majority of the committee believes that it will be appropriate to raise the Federal funds rate again once or twice by the end of the year.

Powell indicates potential interest rate hikes to combat inflation.

06/21/2023

More Jerome Powell Quotes

I will say, though, it feels like we don’t need to be in a hurry.

highly likely to lead to at least a temporary rise in inflation

At the Fed, we are squarely focused on achieving the dual-mandate goals Congress has given us of maximum employment and stable prices

significantly larger than expected