TELETRADER News
11/2/2022, 7:44 PM
(Source: TeleTrader)
Powell hints Fed could slow pace of rate hikes in December
Federal Reserve Chair Jerome Powell noted on Wednesday that the central banking system could decrease the speed of interest rate increases during the next FOMC meeting scheduled for December 14-15.
Commenting on the size of future rate hikes, Powell stressed that the Fed hasn't made a decision yet, and that it continues discussions about slowing the pace at the December meeting or the meeting after that. Speed is becoming less important compared to the question of how high to raise the rate, he concluded.
The Fed announced a 75 basis-point rate hike in today's monetary policy decision, confirming market expectations and prompting a brief surge of Wall Street stocks.