The Federal Reserve left interest rates unchanged on Wednesday and U.S. central bank chief Jerome Powell said the historic tightening of monetary policy is likely over as inflation falls faster than expected and with a discussion of cuts in borrowing costs coming “into view.”
“People are not writing down rate hikes” in their latest economic projections, Fed Chair Jerome Powell said in a press conference following the end of the central bank’s final policy meeting of the year.
“That’s us thinking we’ve done enough,” he said, adding that rate increases were “not the base case anymore.”
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