Federal Reserve Chair Jerome Powell Discusses Future Monetary Policy

United States Federal Reserve Chair Jerome Powell addressed the possibility of rate hikes during a post-FOMC press conference on Wednesday. When questioned about the potential for a rate hike next year, given that inflation has been "moving sideways," Powell responded cautiously.

"In this world, you never completely rule things in or out," Powell stated. "However, a rate hike does not seem to be a likely outcome." He further emphasized that the Federal Reserve is signaling fewer interest rate reductions in the coming year and a slowdown in the pace of these cuts.

Despite this, Powell highlighted the positive state of the US economy, stating, "It's pretty clear we've avoided recession, and the economy is performing very well."