Photo: Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following an FOMC meeting in Washington, D.C., on February 1, 2023. Photographer: Al Drago/Bloomberg Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following an FOMC meeting in Washington, D.C., on February 1, 2023. Photographer: Al Drago/Bloomberg

Federal Reserve Chair Jerome Powell said policymakers expect to deliver a "couple" more interest-rate increases before putting their aggressive tightening campaign on hold, even as they slowed their drive to curb inflation.

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