Flexible Rate Hikes Affirmed as Global Slowdown Concerns Fed
Federal Reserve Chairman Jerome Powell has reiterated the central bank would be patient in raising interest rates this year after global growth worries gripped financial markets in recent weeks. Fed officials have indicated that they are willing to pause rate increases, especially if the economy weakens due to slowing growth abroad. The Fed also reported that consumer credit continued to grow at annualized rate of 6.7% in November 2018 to $3.98, marking the third month out of the past four that consumer credit grew more than $20 billion, for the first time in four years. Source.