Powell says unlikely that Fed's next rate move will be a hike

The Federal Reserve's next policy rate move is unlikely to be an increase, Fed Chair Jerome Powell said on Wednesday, adding that the central bank's policy focus has been to maintain its current restrictive policy stance.

"So I think it's unlikely that the next policy rate move will be a hike. I'd say it's unlikely," Powell told a news conference when asked about the risks that rates may need to be lifted to bring down inflation.