(RTTNews) - Remarks by Federal Reserve Chair Jerome Powell on Wednesday provided further evidence the central bank plans to slow its aggressive pace of interest rate hikes as soon as next month. "Thus, it makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down," Powell said in prepared remarks. Powell reiterated the Fed's plans to raise rates to a level that is sufficiently restrictive to return inflation to the central bank's 2 percent target.