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Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December
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WASHINGTON—Federal Reserve Chair Jerome Powell provided a clear signal that the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation.
Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would decline toward its 2% goal.
Read more on wsj.comAbout this in other media
Jerome Powell’s Grim Inflation Outlook Is at Odds With Markets wsj.com /1 year ago
Jerome Powell’s Grim Inflation Outlook Is at Odds With Markets wsj.com /1 year ago
How Long Should Powell Keep Raising Interest Rates? Fed Officials Are Divided wsj.com /1 year ago
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