Federal Reserve Chairman Jerome Powell said the central bank was prepared to wind down its easy-money policies more quickly, opening the door to raising interest rates in the first half of next year, as it grapples with inflation and a new virus wave that could exacerbate supply-chain disruptions.
Stock markets tumbled and bond yields rose after 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.
