Commentary: Fed signals slowdown in rate increase
By Darrell Delamaide in Washington
It came as a surprise when US Federal Reserve Chair Jay Powell said in a speech that there was no ‘pre-set path’ for interest rate increases. But his address capped a dovish turn in the panel, rather than breaking new ground. As it turns out, he was simply channelling the Federal Open Market Committee meeting from three weeks earlier. The FOMC is not bowing to criticism from US President Donald Trump. Rather, the...