Friday, December 9

Fed’s Powell says rate hike size could shrink at December meeting

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NEW YORK — Federal Reserve Chair Jerome Powell said Wednesday that the US central bank could downshift on the size of its rate increases at its year-end policy meeting.

Speaking at a news conference following the Federal Open Market Committee meeting, Powell said when it comes to moving to smaller rate rises from the 75 basis point moves that have defined recent rate hikes, “that time is coming and it may come as soon as the December meeting,” Powell said, while adding “no decision has been made” yet on what action to take at next month’s FOMC gathering. (Reporting by Michael S. Derby; Editing by Chizu Nomiyama)