HomeFinancial MarketsFed Expected to Hold Historically High Rates Constant

Fed Expected to Hold Historically High Rates Constant

Wall Street analysts are expecting the Federal Reserve to keep rates constant when the central bank convenes for its two-day policy meeting on Tuesday and Wednesday. At its September meeting, the Fed kept rates steady in the range of 5.25%-5.50%; the highest level in the last 22 years.

Fed Chair Jerome Powell indicated while speaking at the Economic Club of New York earlier this month that the central bank may decide to keep rates unchanged at its next policy meeting. He did, however, warn that further hikes could not be definitely ruled out as inflation remains steep.

“Given the uncertainties and risks, and how far we have come, the Committee is proceeding carefully,” Powell remarked. “We will make decisions about the extent of additional policy firming and how long policy will remain restrictive based on the totality of the incoming data, the evolving outlook, and the balance of risks.”

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