Powell enters era of rate-hike caution as growth headwinds mount

Fed's Powell signals rate cut as trade war outweighs strong job market.

WASHINGTON: Federal Reserve chairman Jerome Powell suggested he’ll be more cautious about raising interest rates next year, disappointing investors who wanted even more dovishness.

“There’s significant uncertainty about both the path and the ultimate destination of any further rate increases,’’ he told a press conference Wednesday after the US central bank bumped its target range for rates up by a quarter percentage point to 2.25% to 2.5%.