Powell signals slowdown in pace of interest rate hikes from December

"The time for moderating the pace of rate increases may come as soon as the December meeting," he said in a speech at the Brookings Institution in Washington on Wednesday (30 November). In the Q&A after the speech, he said that himself and his colleagues "do not want to overtighten". This cemented Wall Street expectations the Fed will switch to a 0.5% raise at this month's meeting after four consecutive increases of 0.75%.  Markets surged on the back of Powell's remarks, with the Dow Jones Industrial Average finishing 2.2% higher and the S&P 500 rallying 3.1%.  'No big surprises' a...