Fed Chairman Powell said the Fed has made substantial progress on "sufficiently strict" policies, but there is more work to do; historical experience strongly warns against easing policies too early. The October inflation data was a pleasant surprise, but more evidence is needed to say that inflation is actually falling; it is too early to declare that commodity inflation has subsided, but if the downward trend continues, commodity prices should begin to exert downward pressure on overall inflation in the coming months; the Fed may slow down the pace of rate hikes at the December FOMC meeting. (Jinshi)
