Rate hike slowdown possible in Dec, inflation fight not over: Fed's Powell

The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," Fed Chair Jerome Powell said on Wednesday, while cautioning the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long.

"It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. The time for moderating the pace of rate increases may come as soon as the December meeting," Powell said in remarks prepared