"The time for moderating the pace of rate increases may come as soon as the December meeting. -- Fed chairman Jerome Powell
From "Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December" posted Wednesday:
Federal Reserve Chair Jerome Powell indicated the central bank is on track to raise interest rates by a half percentage point at its next meeting, stepping down from an unprecedented series of four 0.75-point rate rises aimed at combating high inflation.
Mr. Powell, in a speech Wednesday, said an overheated labor market needed to cool more for the Fed to be confident that inflation would make durable downward progress toward its 2% goal.
Because the Fed has raised rates rapidly and it takes time for those moves to influence the economy, it would make sense for officials to slow rate increases, he said in remarks prepared for delivery at the Brookings Institution. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he said.
My take: The Street will like this.