Nick Timiraos said on July 23 local time that the Federal Reserve's July policy meeting is set to be one of the hardest to predict in recent years. According to Odaily, rising oil prices, higher U.S. tariff policy risks, and support from some officials for a rate hike are challenging the consensus to keep rates unchanged.
The market widely expects the Federal Open Market Committee meeting on July 28 and July 29 to keep the policy rate unchanged at 3.50% to 3.75%. However, the outcome would not end the internal debate, and some officials have already begun laying the groundwork for another rate hike later this year.
At a previous meeting, the Fed's 18 officials were divided on whether another rate hike is needed this year, with half expecting a hike and half seeing no need for changes. UBS chief U.S. economist Jonathan Pingle said Fed Chair Kevin Warsh could become a key figure in determining the policy direction.
Federal Reserve's July Meeting Faces Unusual Uncertainty, Nick Timiraos Says
2026-07-23 13:03:41
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