to tame inflation while avoiding a recession, despite a recent energy-fueled rise in consumer prices.
The decision by the interest rate-setting Federal Open Market Committee will be published at 2:00 pm , along with updated economic forecasts. Traders currently see it as 99 percent likely that the Fed will hold off on hiking interest rates on Wednesday, and a roughly 70 percent chance it will vote to do the same at the next FOMC meeting in November, according to data from CME Group.
But Goolsbee added that the Fed must remain “attentive to the data,” echoing Powell, who has promised to follow a “data-dependent” path going forward.
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