CNN Business —The Federal Reserve could pull back on the pace of its aggressive rate hikes as soon as December, Fed Chairman Jerome Powell said Wednesday at an economic forum. The most recent Job Openings and Labor Turnover Survey showed Wednesday that there were almost 1.7 jobs available for every job seeker in October. The decline in job openings is a positive development, Powell said Wednesday. And the rate hikes could be doing more harm than good. Since rate hikes can take months, even years, to flow through the economy, the Fed now appears to be adopting a “lower and slower” model of smaller rate hikes over a longer period.

---