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Powell Hints Fed Is Done with Rate Hikes

“They see an opening for no recession and a soft landing, and they think that is a risk they are willing to take.”

By Steve Matthews & Craig Torres | November 01, 2023 at 07:15 PM
Photo: Jerome Powell, chairman of the U.S. Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on November 1, 2023. Photographer: Al Drago/Bloomberg Jerome Powell, chairman of the U.S. Federal Reserve, during a news conference following an FOMC meeting in Washington, D.C., on November 1, 2023. Photographer: Al Drago/Bloomberg

Federal Reserve Chair Jerome Powell hinted that the U.S. central bank may now be finished with the most aggressive tightening cycle in four decades after it held off on raising interest rates for a second consecutive policy meeting.

“The question we’re asking is: Should we hike more?” Powell told reporters during a press briefing after the decision. “Slowing down is giving us, I think, a better sense of how much more we need to do, if we need to do more.”

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