INFLATION IN FOCUS: What to expect from final Federal Reserve meeting of the year
"Given our progress in tightening policy, the timing of that moderation is far less significant than the questions of how much further we will need to raise rates to control inflation and the length of time it will be necessary to hold policy at a restrictive level," he said during a speech in Washington.
Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve Building in Washington, June 15, 2022. Investors will also watch Powell's press conference at 2:30 p.m. ET for additional clues about what comes next in the Fed's inflation fight. Should policymakers signal that they expect rates to remain high through 2024, it could deliver a hawkish shock to the markets, which are currently betting that rates will be cut in the second half of the year. However, investors could wind up sorely disappointed: although new data released on Tuesday showed that the consumer price index rose just 0.1% in November from the previous month and 7.
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