Fed Chair Powell Hints No Rate Hike in November, Leaves Door Open to Tighter Policy

A combination of slowing economic growth and softer labor markets would be needed to fight inflation, says Federal Reserve Chair Jerome Powell.

Federal Reserve Chair Jerome Powell attends a lunch hosted by the Economic Club of New York at the Hilton Hotel in New York City on Oct. 19, 2023. Spencer Platt/Getty Images

Federal Reserve Chair Jerome Powell hinted that there will be no rate increase at next month’s Federal Open Market Committee (FOMC) policy meeting, but left the door open to further tightening if it is warranted.

Financial markets paid close attention to Mr. Powell’s appearance at the Economic Club of New York on Oct. 19, combing through his remarks to determine the trajectory of interest rates.