Powell causes a stir in global markets

The Federal Reserve (Fed) chairman told Congress that policymakers will discuss whether to wrap up bond purchases a few months earlier and retired the word “transitory” from his commentary on inflation. (File pic shows traders watching Powell speak during one of the previous appearances)

WASHINGTON: Jerome Powell sent a stir through global markets, paving the way for quicker-than-expected hikes, not least in rate-sensitive Asia.

The Federal Reserve (Fed) chairman told Congress that policymakers will discuss whether to wrap up bond purchases a few months earlier and retired the word “transitory” from his commentary on inflation.