The Federal Reserve is expected to raise interest rates and perhaps signal a pause in its 14-month tightening cycle, as policymakers balance the need to slow inflation against a pressing set of risks including the possibility of a US debt default
Investors anticipate the U.S. central bank will follow through with a quarter-percentage-point rate hike at the end of its latest two-day policy meeting. The policy statement is due to be released at 2 p.m. EDT , with Fed Chair Jerome Powell scheduled to speak to reporters half an hour later.
As of March, 10 of 18 Fed policymakers indicated they were likely ready to halt the rate hikes after one more increase, expected at this week's meeting, lifts the Fed's benchmark overnight interest rate to the 5.00%-5.25% range. The tradeoff for moving forward with a rate increase this time "may be that Powell has to adopt a less forward-leaning tone in terms of prospects for additional tightening at the following meeting," Krishna Guha, a former New York Fed official who is now vice chairman of Evercore ISI, wrote in a note ahead of the policy decision.
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