US interest rate hike possible for September if data warrants action: Powell

Federal Reserve Chairman Jerome Powell said at a Wednesday press conference that it's possible the U.S. central bank will follow its latest rate rise with another one at the policy meeting scheduled for September.

"It is certainly possible we would raise the funds rate at the September meeting if the data warranted, and I would also say it's possible that we would choose to hold steady at that meeting," Powell said.

He said the Fed will be making decisions on monetary policy on a meeting-by-meeting basis and that a wide range of data would be considered by the Fed as it deliberates on monetary policy.

"I think you take everything into account when you start cutting rates. It would depend on a wide range of things,” Powell said. “There's a lot of uncertainty between what happens, you know, when the next meeting cycle — let alone the next year, let alone the year after that.”

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