A significant downturn in commodity prices could give the Federal Reserve cover to change its aggressive pace of planned interest rate hikes, according to a report from Capital Economics.  

The central bank still looks posed to fire off another 75 basis point interest-rate hike later this month, with most Fed officials showing support for the move. The view was fortified by Friday’s strong jobs report, indicating a faster pace of job creation than forecasters had anticipated, but also potentially a bigger challenge for the…