Fed Chair: 50 Basis Point Rate Hike Possible

(Washington, DC)  --  The chairman of the Federal Reserve says interest rates may rise more quickly in the near future.  Jerome Powell said a 50 basis point hike "will be on the table" when the Fed meets next month.  He made those remarks during an International Monetary Fund panel.  The target range for the federal funds rate currently stands at one-quarter to one-half percent.