Fed Chair Expects Slower Rate Increases, But Consecutive Hikes Still Possible

Federal Reserve Chair Jerome Powell expects a slower pace of interest rate increases to continue, following the central bank's decision to skip raising rates in June. While Powell didn't rule out the possibility of back-to-back rate moves in the future, he emphasized a more patient approach. The Fed has been gradually raising rates to slow economic growth and control inflation, but Powell acknowledged the uncertainty surrounding the economic outlook. The central bank currently anticipates two more rate increases in 2023, but investors are betting on only one increase as the economy slows and inflation cools.