WASHINGTON (Reuters) -- The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," Fed Chair Jerome Powell said on Wednesday, while cautioning the fight against inflation was far from over and that key questions remain, including how high rates will ultimately need to rise and for how long.
Economy
Fed's Powell signals rate-hike slowdown could start in December
But chairman says inflation fight far from over, dimming hope for 2023 rate cut
Federal Reserve Chair Jerome Powell signals that the U.S. central bank may slow the pace of interest rate increases from its next meeting in December. © Reuters
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