The US central bank opened a key policy meeting Tuesday, with officials widely expected to hold interest rates at a 22-year-high as they balance efforts to lower inflation while staving off a recession. With financial conditions tightening, analysts expect the Fed can continue holding rates steady.
The US Federal Reserve is widely expected to hold interest rates steady at the end of its two-day gathering starting Tuesday. Photo: ALEX WONG / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/FileThe US central bank opened a key policy meeting Tuesday, with officials widely expected to hold interest rates at a 22-year-high as they balance efforts to lower inflation while staving off a recession.
"We anticipate the Fed will keep the federal funds rate unchanged at 5.25 percent to 5.50 percent," said EY chief economist Gregory Daco, on the outcome of the two-day meeting. Consumer inflation, at more than three percent, remains firmly above policymakers' long-term two percent target as well. But this will be conditional on a continued pick-up in job growth and inflation, which is unlikely, he added.
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