Golden Finance reports that Federal Reserve Chairman Powell stated at a press conference that an interest rate hike seems unlikely next year as the Federal Reserve is working to maintain a strong labor market while bringing inflation down to 2%. When asked whether an interest rate hike could be ruled out in the event of the Fed slowing its future rate cuts, Powell said, "You can't completely rule out things in this world. That doesn't seem like a likely outcome. I think 4.3% is a meaningful restrictive level, which is a well-calibrated range that allows us to continue making progress on inflation while maintaining a strong labor market."