11/30/2022, 7:35 PM (Source: TeleTrader)
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Powell: Fed could slow pace of rate rises in December

Federal Reserve Chair Jerome Powell (pictured) stated Wednesday that the United States Federal Reserve could slow the pace of rate rises in December.

"The time for moderating the pace of rate increases may come as soon as the December meeting," said Powell during a speech at The Brookings Institute, while adding that it is probable "that restoring price stability will require keeping policy at a restrictive level for some time."

In addition, Powell added that historically, premature policy easing has been strongly discouraged. "We will stay the course until the job is done," he concluded.

Baha Breaking News (BBN) / JG