The Fed governor said he’s open to reducing the level of interest rate increases to half a percentage point in December.
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Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’
The central bank chief asserted that he will seek to balance fighting inflation with supporting the labor market.
Key Fed inflation gauge at 2.2% in August, lower than expected
The personal consumption expenditures price index was expected to increase 0.1% in August and 2.3% from a year ago.
Swiss central bank cuts rates by a quarter point in third trim this year
It was the first major Western central bank to reduce interest rates back in March.
September consumer confidence falls the most in three years
The Conference Board's Consumer Confidence Index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August...