The Federal Reserve's resolution is expected to signal a delay in interest rate cuts
2024-05-01 05:04:09
Fed officials are likely to keep interest rates steady for the sixth consecutive meeting and are likely to signal no near-term rate cuts amid higher-than-expected inflation. Policymakers are reluctant to start cutting rates until they are certain that inflation is close to 2 percent, which they believe is appropriate for a healthy economy. Although they had planned three rate cuts in 2024 as early as March, Powell is likely to say those plans have been put on hold and will depend on inflation improving.
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