Despite What Powell Says, the Fed Is Likely Done

Federal Reserve Chairman Jerome Powell suggests another rate hike may not occur soon, as the Fed works to bring down inflation and assess the economy.

August 26, 2023 . 7:16 PM

1 min read

Federal Reserve Chairman Jerome Powell suggests another rate hike may not occur next month.
Powell indicates that the unwinding of pandemic distortions and rate increases are working to bring down inflation.
Bank lending standards have tightened, industrial production growth has slowed, but GDP growth has exceeded expectations.
Powell pledges to raise rates further if necessary but suggests the Fed is in no rush to do much.
The Fed wants to keep the option to raise rates open and prevent investors from focusing on rate cuts.