Powell Lays Groundwork for Faster End to Stimulus as Inflation Outlook Worsens

Federal Reserve Chairman Jerome Powell said the central bank was prepared to prepared to quicken the pullback of its easy-money policies, opening the door to raising interest rates in the first half of next year as it grapples with inflation and a potential new virus wave that could exacerbate supply-chain disruptions.

Mr. Powell during a Senate hearing on Tuesday said it would be appropriate for the Fed to consider accelerating the reduction of its asset-purchase stimulus program at its meeting on Dec. 14-15.