Powell: The pace and goals of monetary policy may change

On November 8, when asked if the Federal Reserve was considering pausing interest rate cuts in December, Federal Reserve Chairperson Jerome Powell said at a press conference that as officials shift their monetary policy stance to neutral, they have not yet made a decision on what policy action the central bank will take in December. "In the face of an uncertain outlook, we are prepared to adjust our assessment of the appropriate pace and ultimate goal of monetary policy," he said. "If the labor market deteriorates, the central bank will be prepared to act more quickly. It may also be appropriate to slow the pace of tapering the restrictive interest rate stance."