The Federal Reserve will announce Wednesday if it will press ahead with an 11th straight interest rate hike to tackle high inflation or skip an increase to give policymakers more time to take stock of the US economy.
“Skipping a rate hike at a coming meeting would allow the Committee to see more data before making decisions about the extent of additional policy firming,” Fed governor Philip Jefferson said late last month.
The United States is also facing tighter bank lending conditions in the aftermath of a string of regional bank collapses earlier this year. Although most analysts now expect the Fed to pause its interest-rate hikes, there are some notable outliers still predicting a 25-basis point hike.
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