The Fed recently announced its fourth consecutive three-quarters of a percentage point interest rate hike, taking the target range to 3.75% to 4%, its highest since January 2008. The latest move comes after inflation rose higher than expected in September, climbing 8.2% year-over-year.
The Fed Chair Jerome Powell indicated that the decision to slow the rate increase pace would be taken at the next Fed meeting. However, Powell cautioned that the final level of interest rates would be higher than expected.
