Powell signals FOMC may slow pace of hikes

Jerome Powell
Federal Reserve chair Jerome Powell
Photo: US Federal Reserve

US Federal Reserve chair Jerome Powell signalled a willingness to put the brakes on rate hikes in the near term on November 30.

“The time for moderating the pace of rate increases may come as soon as the December meeting,” said Powell at a Brookings Institution event.

The key questions, he said, were how high the Federal Open Market Committee would raise the policy rate and how long it would stay there. He said the FOMC would try to identify a policy stance “that is sufficiently restrictive to

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