US Fed signals slower rate hikes as inflation softens

Fed chair Jerome Powell is closely watching services prices. (Image: Getty)

Fri, 13 Jan 2023

The US Federal Reserve (the Fed) is on track to downshift to smaller interest rate increases following a further cooling in US inflation, though it’s likely to keep hiking until price pressures show more definitive signs of slowing.Philadelphia Fed president Patrick Harker, speaking yesterday shortly after the US Labor department’s release of consumer price data, said rate hikes of a quarter percentage point “will be appropriate going forward”, following bigger increases throughout most of last year.Harker’s commen...

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