Fed board member Powell says March rate hike possible

WASHINGTON – A top Federal Reserve official has added his voice to a growing group of Fed officials who are indicating that it might be appropriate to raise interest rates this month.

Fed board member Jerome Powell said in a CNBC interview Thursday that “I think the case for a rate increase in March has come together, and I do think it is on the table for discussion.” Powell said that he believed the Fed was close to achieving its targets on full employment and 2 percent inflation.

Powell’s comments were the latest in a series of remarks from Fed officials this week that have raised the possibility the Fed will hike rates at its March 14-15 meeting. Fed Chair Janet Yellen is scheduled to speak on the economic outlook on Friday.