Explainer: What the US Fed's latest signals on rate hikes mean and the implications for Singapore

US Fed chair Jerome Powell has said that the Fed could slow down the pace of future rate hikes as soon as next month.

Yet, he said that interest rates could peak at higher levels than previously thought.

This was after the Fed raised interest rates by 75 basis points for the fourth consecutive time.

Even as the pace of rate hike slows, households would still have to deal with even higher mortgage rates or car loans in the future, economists said.