Powell's cautious rate outlook weighs on US stocks and investor bets.

Federal Reserve Chair Jerome Powell said the central bank would move interest rates at a "careful pace" from here as policymakers edge towards a stopping point for their historic round of monetary policy tightening. After having raised rates at 10 straight meetings, sometimes by as much as three quarters of a point at a time, the Fed skipped the June meeting. Investors now expect rate hikes to resume in July, with the Fed perhaps evaluating the need for further increases at every other session - a pace common in prior tightening cycles.