Fed hints at slower interest rate hikes


For joy at the prospect of small or interest rate hikes even though there will still be more increases to cool inflation, CBS's Sarah E wall Weiss. Federal Reserve chairman Jerome Powell said the pace of hiking interest rates could ease as soon as next month, but he warned the fed has a long way to go in combating inflation. It is likely that restoring price stability will require holding policy at a restrictive level for some time. The fed has already hiked the federal funds rate by nearly four percentage points this year. One thing The White House and most in Congress do not want is to see a possible rail strike next week. On this vote

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