Powell signals rate downshift likely next month, but more hikes are coming
Powell signals rate downshift likely next month, but more hikes are coming
By Craig Torres | Bloomberg
Chair Jerome Powell signaled the Federal Reserve will slow the pace of interest-rate increases next month, while stressing borrowing costs will need to keep rising and remain restrictive for some time to beat inflation.
His comments, in a speech Wednesday at the Brookings Institution in Washington, likely cement expectations for the Fed to raise interest rates by 50…