Powell: The pace and goals of monetary policy may change.

Powell: The pace and objectives of monetary policy may change. When asked whether the Fed is considering pausing rate cuts in December, Fed Chairman Powell said at a press conference that as officials shift the monetary policy stance to neutral, they have not yet decided what policy action the Central Bank will take in December. He said, “In an uncertain outlook, we are prepared to adjust our assessment of the appropriate pace and ultimate objectives of monetary policy. If the labor market deteriorates, the Central Bank will be prepared to act more quickly. Slowing the pace of reducing restrictive Interest Rate positions may also be appropriate.” Federal Reserve Chairman Powell said that the unemployment rate has dropped slightly in the past three months but remains low. If there are no storms or strikes, hiring will be ‘slightly higher.’ He also said that the improved supply situation supports the economy and that consumer spending still has resilience.