Markets widely expect the Federal Reserve to cut interest rates for the fourth time this year at its December meeting. The question is what the central bank will do next year. Recent sticky inflation prints and evidence the US economy is growing at a solid pace have raised doubts that the Fed will bring down rates as quickly as it previously

Despite inflation in some sectors remaining outside the Federal Reserve's benchmark of 2%, officials indicated they are pleased with the current easing of interest rates, and more gradual cuts may follow.

Powell just a week after the meeting said the economy was "not sending any signals that we need to be in a hurry to lower rates."

Gold prices rose on Thursday after slowing U.S. inflation data released in the last session firmed bets on a Federal Reserve rate cut next month. Spot gold was up 0.4% to $2,645.67 per ounce, as of 1024 GMT.