Fed to Signal Delay of Interest-Rate Cuts

-- Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation.Binance and CZ’s Fortunes Are Set to Grow, Even in JailThe Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday.

“Memorializing it in the statement puts an exclamation point on it,” said Morgan Stanley Chief US Economist Ellen Zentner. “There has been a substantial amount of improvement in the year-over-year pace of inflation, but it has slowed or stalled in recent months.” Powell could also be asked about reports that former President Donald Trump’s allies are quietly drafting proposals that would curb the central bank’s independence if he wins a second term. The Fed chief is likely to emphasize the importance of Fed independence and reiterate that politics aren’t a factor in policy decisions, while avoiding commenting on any candidate.

Saul Loeb/AFP via Getty ImagesHakeem Jeffries, the House minority speaker, and other top Democrats have announced that they will come to the aid of House Speaker Mike Johnson , agreeing they won’t let the embattled Republican lose his job.Rep. Marjorie Taylor Greene put forward a motion to vacate Johnson from the speakership over a month ago, in an ultimately fruitless effort to stop the House from passing an aid bill for Ukraine.

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