The Federal Reserve’s aggressive rate hikes to curb the persistently high inflation and geopolitical concerns have brought upon a stock market downturn this year. However, the last CPI data showed signs of slowing inflation. Therefore, Fed Chairman Jerome Powell recently indicated that the central bank would raise interest rates at a slower pace.
Analysts expect a 50-basis-point rate increase at the Fed’s December monetary policy meeting. Powell said, “It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down.”
