Week InReview: October 20, 2023

Powell suggests another hold.

Jerome Powell, chair of the US Federal Reserve, during an interview at an Economic Club of New York event in New York on Thursday, Oct. 19, 2023. Powell suggests the Fed will hold rates. Photo: Bess Adler | Bloomberg

Federal Reserve Chair Jerome Powell suggested the US central bank is inclined to hold interest rates steady again at its next meeting while leaving open the possibility of a future hike if policymakers see further signs of resilient economic growth. His comments effectively affirm market expectations that the Fed will skip a rate increase for a second straight meeting when officials gather on Oct. 31 and Nov. 1.

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