Fed's Powell notes rising number of officials want to hold off on rate cut

By Michael S. Derby

Oct 29 (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday that a mounting number of U.S. central bank officials are ready to hold off on an imminent interest rate cut.

Having cut rates at the last two policy meeting, “there's a sense” some officials would like to move to the sidelines, Powell said at a press conference following the close of the Federal Open Market Committee meeting. “There's a growing chorus now of feeling like maybe this is where we should at least wait a cycle, something like that."