Initially, Fed Chair Jerome Powell tried and succeeded in not rocking the boat. He managed to strike a balance between being encouraged by growth but stressing a gradual path of rate hikes and kept the dollar balanced as well.
Later on, he gave a long testimony and had some hawkish comments. In an answer to a question about the dot-plot, Powell said that things have changed since that last update back in December. He listed positive changes, implying that the Fed would upgrade the projected path of interest rates, sending the US dollar higher across the board.
Here is a live coverage of the event, as it happened.Â
