Federal Reserve set to shrink rate hikes again

Key decision: Powell leaves a news conference in Washington. All eyes will be on him Wednesday as the central bank decides how much higher it intends to raise rates. — Reuters

WASHINGTON: Federal Reserve (Fed) officials are set to shift down the pace of interest-rate hikes again in the coming week amid signs of slowing inflation, while Friday’s jobs report may show steady demand for workers that improves the chances of a soft landing for the the world’s largest economy.

Policymakers are poised to raise their benchmark federal funds rate by a quarter percentage point on Wednesday, to a range of 4.5% to 4.75%, dialling back the size of the increase for a second-straight meeting.