Chairman of the Federal Reserve nominee Jerome Powell testifies during his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee November 28, 2017 on Capitol Hill in Washington, DC.
Alex Wong/Getty
- Markets are betting the Federal Reserve will cut interest rates as soon as early 2024.
- But Fed Chairman Jerome Powell recently dampened hopes for cuts and left open the possibility of more hikes.
- Other central bankers have indicated that the tightening cycle has ended.