Fed Chief Jerome Powell Signals Slowdown in Rate Hikes: What the Experts Are Saying

Stocks rallied after Fed Chair Jerome Powell indicated that December's rate hike would be smaller.

Federal reserve chair Jerome Powell speaking about interest rate hikes
(Image credit: Getty Images)

Federal Reserve Chair Jerome Powell signaled that the central bank will slow its pace of rate hikes next month, but stressed that borrowing costs will remain high for the foreseeable future in a bid to halt the worst inflation in four decades.

In a speech delivered at the Brookings Institution in Washington, D.C., on Wednesday, Jerome Powell acknowledged that monetary policy affects the economy and inflation with "uncertain lags." As such, the full effects of the Fed's rapid series of rate hikes have yet to be felt.

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Dan Burrows
Senior Investing Writer, Kiplinger.com

Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.

A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities.

Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.

In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.

Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.

Disclosure: Dan does not trade stocks or other securities. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.