Jerome Powell,Federal Reserve Chairman
Federal Reserve Chairman Jerome Powell hinted at fewer rate cuts next year following policymakers’ decision to slash the rates for the third time. 
“We are in a new phase of the process,” he said at a press conference.
“With today’s action, we have lowered our policy rate by a full percentage point from its peak, and our policy stance is now significantly less restrictive. We can therefore be more cautious as we consider further adjustments to our policy rate,” Powell added.
He called Wednesday’s rate-cutting decision a “closer call” but ultimately the right decision for the central bank to seek to achieve its dual mandate. The Fed reduced on Dec. 18 the interest rate range by 25 basis points, marking the third consecutive time, following rate cuts during the September meeting (50 bps) and the November meeting (25 bps).
Jerome Powell,Federal Reserve Chairman
Federal Reserve Chairman Jerome Powell hinted at fewer rate cuts next year following policymakers’ decision to slash the rates for the third time.
“We are in a new phase of the process,” he said at a press conference.
“With today’s action, we have lowered our policy rate by a full percentage point from its peak, and our policy stance is now significantly less restrictive. We can therefore be more cautious as we consider further adjustments to our policy rate,” Powell added.
He called Wednesday’s rate-cutting decision a “closer call” but ultimately the right decision for the central bank to seek to achieve its dual mandate. The Fed reduced on Dec. 18 the interest rate range by 25 basis points, marking the third consecutive time, following rate cuts during the September meeting (50 bps) and the November meeting (25 bps).
