Interest Rates

Fed chair indicates interest rates hikes to end

In quarterly economic projections, 12 of 19 Fed officials said they still expect to raise rates once more this year

Federal Reserve chair Jerome Powell

Federal Reserve chair Jerome Powell has said the central bank is near the end of the process of raising interest rates.

After a series of rapid rate hikes over the past 18 months, the Fed can now “proceed carefully,” Powell said — a sentiment he repeated at least a dozen times Wednesday during a press conference that followed the central bank’s decision to leave rates unchanged.

In quarterly economic projections released following a two-day policy ...