What J-Powell Giveth, J-Powell can take it the way, you know, from American public media.

This is Marketplace.

In Los Angeles, I'm Kai.

Resolute is Wednesday.

Today, the 30th of November is always to have you along, everybody.

So look, to be clear, it's not like J-Powell and the Federal Reserve have all the power

in this economy right now.

But they've got a lot.

So when the Fed Chair speaks, attention must be paid.

Paul gave a speech today at the Brookings Institution in Washington, took some questions

afterward.

And the two things that struck us were a little newsy, sure, but also kind of, wait, what?

Here is tidbit number one.

The time for moderating the pace of rate increases may come as soon as the December meeting.

I'll translate here if you need it.

That is Paul saying without actually using the words that all other things being equal

the next interest rate increase, which comes in about two weeks, is going to be a half

a percentage point, not three quarters, as they have been.

But he then said this too.

It will take substantially more evidence to give comfort that inflation is actually declining.

And by any standard, inflation remains far too high.

So while it might kind of sort of look like inflation might have peaked, Paul is saying

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