Powell’s Nuance Confirms Fed Finished Hiking Rates

Jerome Powell participated in a fireside chat on Friday at Spelman College in Atlanta, Lisa Cook's alma mater. His prepared remarks were parsed relentlessly by traders, both carbon-based and otherwise. Powell described job gains as "strong" but "slowing toward a more sustainable level." The slowdown, which he called "gradual," is in part attributable to the Fed's efforts to cool the economy in the service of restoring price stability. Wage growth "remains high," Powell said, before quickly no