Federal Reserve slows rate hikes, but signals further increases are coming

Federal Reserve chairman Jerome Powell. (Image: Getty)

Thu, 02 Feb 2023

By Rich MillerFederal 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. Powell and his colleagues lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that. Still, investors took heart from th...

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