Federal Reserve Chair Jerome Powell has hinted that the Fed is nearing an end to its interest-rate hikes.<br />In a speech at the Economic Club of New York on Wednesday, Powell said the benchmark interest rate was nearing a neutral level.<br /><br />"Interest rates are still low by historical standards and they remain just below the range of estimates of that level that would be neutral for the economy - that is neither speeding up nor slowing down growth."<br /><br />His comments contradicted what he said early last month, when he said the rate was a long way from neutral. <br />Those remarks set off a rough period on Wall Street with major indices dropping. <br />However, his softer tone on interest-rate policy on Wednesday caused stocks to rally, though the dollar fell.<br />Powell has faced continued attacks from President Trump for gradually raising rates since the Fed chair took office in January. <br />Trump this week also blamed the recent market sell-off and GM's decision to cut its workforce in part on Powell. <br />
