Federal Reserve

Fed officials express caution about pace of future hikes

Federal Reserve officials earlier this month appeared on track to raise its key interest rate again in December, but they signaled that the pace of future rate hikes might need to slow given emerging risks to the economy.

Business Highlights

___ Stocks surge as Powell hints at slower interest rate hikes NEW YORK (AP) — U.S. stocks made their biggest gain in eight months after Federal Reserve Chairman Jerome Powell hinted that the Fed might be willing to raise interest rates at a slower pace next year.