Is it a 'skip' or a 'pause'? Federal Reserve won't likely raise interest rates next week

WASHINGTON —

"That's probably the only way to keep the committee cohesive in an environment where they have seem to have somewhat broadening disagreements," said Matthew Luzzetti, chief U.S. economist at Deutsche Bank Securities. Latest Headlines They said we were getting a recession. Instead, we’re getting a bull market One camp is more"dovish," meaning it leans against another rate increase. The doves, who include Powell and other top officials, think it takes a year or more for rate hikes to deliver their full effect and that the Fed should stop hiking, at least temporarily, to evaluate the impact so far.

Another group expresses a more"hawkish" view, meaning it favors further rate increases. Although food and gas prices have come down, overall inflation remains chronically high, hiring remains hot and consumers are still stepping up their spending — trends that could keep prices high. Latest Headlines Persistent inflation, higher interest rates will weigh on global economy, OECD predicts "Given how far we've come, we can afford to look at the data and the evolving outlook and make careful assessments," Powell said, referring to the Fed's streak of rate hikes.

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