(Bloomberg) -- Federal Reserve Chair Jerome Powell said the central bank would take a data-dependent approach to future interest-rate hikes.
“Looking ahead, we will continue to take a data-dependent approach,” Powell said Wednesday during a press conference following the US central bank's two-day policy meeting.
Fed officials raised interest rates by a quarter-percentage point, as was widely expected by Fed watchers, to a range of 5.25% to 5.5% after pausing tightening at last month's meeting. They also left the door open to further policy tightening this year in a post-meeting statement.
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