Powell speech: Time for slower hikes may come as soon as December or February

FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve's decision to raise the policy rate by 75 basis points to the range of 3.75-4% following the November policy meeting.

Key quotes

"Speed is becoming less important now."

"The time for slower rate hikes may come as soon as December of February."

"We will have discussion on that at next meeting, no decision made yet."

"Our principle focus is to keep rates restrictive."

"More important than pace of rate hikes will be how high rates need to go."

"Dont think we have overtightened."

"We had a discussion at this meeting about slowing rate hikes."

"There is still a need for ongoing rate increases, ground left to cover."

"We will want to get to real positive rates, we need real positive rates across the curve."