WASHINGTON — The US Federal Reserve is likely to keep interest rates unchanged this week, but could pare back the number of cuts it has penciled in for this year, as policymakers digest a mixed bag of economic data.
Stalled progress against inflation and a robust labor market have pushed many analysts to predict that the rate-setting Fed eral Open Market Committee will not cut interest rates from their current 23-year high before September at the earliest.A September start to cuts would likely increase the gap between the Fed and the European Central Bank , which began easing monetary policy rates last week.
Nevertheless, a September start to rate cuts would thrust the Fed into the middle of a fractious presidential campaign between President Joe Biden and his Republican opponent, Donald Trump, who has previously questioned the US central bank's independence.Cutting backFutures traders see almost no chance of a rate cut before September, according to data from CME Group.
Expected To Keep Interest Rates On Hold
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Views on US economy 'more pessimistic'WASHINGTON, D.C. – Outlooks on the US economy have become gloomier with reports of rising uncertainty and worries over risks, even though growth broadly continued recently, the Federal Reserve (Fed) said on Wednesday.
Read more »
Fed official: Progress vs inflation 'likely resumed'WASHINGTON, D.C. — Progress in the US Federal Reserve's (Fed) fight against inflation 'likely resumed' last month, a senior bank official said Tuesday, adding that additional rate hikes were probably unnecessary.
Read more »
US industrial production flat in AprilWASHINGTON, D.C. – US factory output was flat in April, missing analyst expectations of a third straight monthly increase, according to Federal Reserve (Fed) data released on Thursday.
Read more »
Of Fed independence and interesting ratesKUALA LUMPUR — What the US Federal Reserve (the Fed, the equivalent of America's central bank) sees as persistently high domestic inflation is mainly a consequence of the economic stimulus package that was rolled out one after another by both the Donald Trump and Joe Biden administrations in their effort to resuscitate what they saw as flagging...
Read more »
Former astronaut William Anders, who took iconic Earthrise photo, killed in Washington plane crashSEATTLE (AP) — William Anders, the former Apollo 8 astronaut who took the iconic “Earthrise” photo showing the planet as a shadowed blue marble from space in 1968, was killed Friday when the plane he was piloting alone plummeted into the waters off the San Juan Islands in Washington state. He was 90.
Read more »
Former astronaut William Anders, who took iconic Earthrise photo, killed in Washington plane crashSEATTLE (AP) — William Anders, the former Apollo 8 astronaut who took the iconic 'Earthrise' photo showing the planet as a shadowed blue marble from space in 1968, was killed Friday when the plane he was piloting alone plummeted into the waters off the San Juan Islands in Washington state. He was 90.
Read more »