United States Federal Reserve Chair Jerome Powell stated on Wednesday that the financial institution is currently not contemplating rate hikes for the moment as the central bankers “think that with restrictive policy, the economy will weaken.” “We think policy is restrictive and ultimately, eventually you will see weakening in economy. No one on committee has rate hikes as base case,” Powell added during a post-FOMC press conference. However, the policymaker emphasized that even if today’s inflation report was “encouraging,” it comes after several that weren’t. “One reading is just one reading, don’t want to be too motivated by that.” NN: Like I said its all up for grabs.