te Smaller rate hikes likely coming in December: US Fed chairman | Zee Business

Smaller rate hikes likely coming in December: US Fed chairman

Investors have been closely watching for any indication that the Fed might slow or even pause its punishing schedule of rate hikes, the much-talked about pivot that would release the brakes the central bank slammed on the economy.

Smaller rate hikes likely coming in December: US Fed chairman
Smaller rate hikes likely coming in December: US Fed chairman. Image Source: Reuters

Jerome Powell, Chairman of the US Federal Reserve, said the central bank could pull back on the pace of its aggressive rate hikes as soon as December.

"The time for moderating the pace of rate increases may come as soon as the December meeting," CNN quoted Powell as saying at the Hutchins Center on Fiscal and Monetary Policy, his last public appearance before the central bank enters a blackout period ahead of its December 13-14 policymaking meeting.

"Despite some promising developments, we have a long way to go," Powell said, noting that the Fed has "not seen clear progress" on decades-high inflation plaguing the economy.

TRENDING NOW

Investors have been closely watching for any indication that the Fed might slow or even pause its punishing schedule of rate hikes, the much-talked about pivot that would release the brakes the central bank slammed on the economy.

But Fed officials have ramped up their rhetoric in recent weeks to disseminate the message that there's much more work to do, and will forge ahead with rate increases, albeit smaller, until the current bout of decades-high inflation shows signs of abating, reports CNN.

St. Louis Federal Reserve President James Bullard warned this week athat the stock market is underpricing the risk of a continually aggressive Fed, and New York Federal Reserve President John Williams told the Economic Club of New York on Monday that inflation remains the "No. 1 economic concern across the globe", citing underlying inflation in the service sector as "the most challenging" aspect of the battle.

Also Read |  Click Here For Latest Updates On Stock Market | Zee Business Live

Also Read |  FIFA World Cup 2022 Points Table, December 1 Today matches: Croatia vs Belgium, Canada vs Morocco | FULL guide to FIFA world cup 2022 LIVE score, schedule, Live Streaming, standings

Written By: ZeeBiz WebTeam
Updated: Thu, Dec 01, 2022
03:48 pm
IANS
RELATED NEWS
US Fed, ECB, Bank of England poised to keep interest rates on hold US Fed, ECB, Bank of England poised to keep interest rates on hold
Fed keeps rates unchanged, Jerome Powell hedges on possible end of tightening campaign Fed keeps rates unchanged, Jerome Powell hedges on possible end of tightening campaign
US Fed interest rate decision, global cues key factors to drive markets this week: Analysts US Fed interest rate decision, global cues key factors to drive markets this week: Analysts
Fed's preferred inflation gauge shows a modest rise in latest sign of slowing price increases Fed's preferred inflation gauge shows a modest rise in latest sign of slowing price increases
Prepared to raise interest rates further if appropriate: Federal Reserve Chair on US efforts to tackle inflation Prepared to raise interest rates further if appropriate: Federal Reserve Chair on US efforts to tackle inflation

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x