Federal Reserve will likely leave interest rates alone for the first time in 15 months

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The New York Stock Exchange, Wednesday, Dec. 14, 2022, in New York. The Federal Reserve raised interest rates by half a point on Wednesday. Stocks are off to a weak start on Wall Street as worries grow that the Federal Reserve and other central banks are willing to bring on a recession if that’s what it takes to get inflation under control. (AP Photo/Julia Nikhinson)

The Associated Press

WASHINGTON (AP) – The Federal Reserve, having raised interest rates at the fastest pace in four decades, is poised Wednesday to leave rates alone for the first time in 15 months to allow time to gauge the impact of its aggressive drive to tame inflation.

Yet top Fed officials have made clear that any such pause may be brief – more of a “skip” – with another rate hike likely as soon as their next meeting in late July.

Fed Chair Jerome Powell and other top policymakers have also indicated that they want to assess how much a pullback in bank lending might be weakening the economy.

Read the full story on AP News right here.

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6/14/2023 12:35:37 PM (GMT -5:00)

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