Let's thank Federal Reserve Board Chair Jerome Powell for his gift last week. “The time for moderating the pace of rate increases may come as soon as the December meeting (scheduled for Dec. 13 and 14),” he announced. And though this means the Federal Reserve will increase interest rates by .50 percent, slightly smaller than the previous four consecutive increases of .75 percent each, it is nevertheless significant. As with chemotherapy, the dose and frequency of rate hikes matter to avoid undesirable side effects. This smaller increase, and possibly others like it to follow, is bound to cause less misery among consumers and workers — and could help the U.S. avoid a hard economic landi
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