WASHINGTON – Federal Reserve officials face their biggest challenge in months as they weigh whether to keep raising interest rates this week to cool inflation, or take a pause amid the market turmoil fuelled by recent bank failures.
Now, given the financial market volatility, many Fed watchers expect a smaller, quarter-point increase, and some say the US central bank will pause altogether after a two-day meeting that starts on Tuesday. Also highly anticipated from the Fed meeting with be an update to the Summary of Economic Projections – a quarterly report laying out participants’ forecasts for everything from inflation to interest rates – and Chair Jerome Powell’s post-meeting press conference.
Source: Financial Digest (financialdigest.net)
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