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Powell will come up with a new mantra: Slow and steady


Federal Reserve Chairman Jerome Powell will have a chance Wednesday to lay the groundwork for the central bank’s direction when policymakers meet next month — and he’ll likely use the opportunity. to make the case for a slower but steady rate hike.

In a speech Wednesday afternoon at the Brookings Institution, Powell is expected to reinforce the double message central bank officials have delivered. do for a few weeks: that the Fed is on track to slightly ease the pace of monetary policy tightening, likely to slow to a 50-basis-point increase next month after four consecutive 75-basis-point increases.

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