Federal Reserve expected to pause monthslong string of interest rate hikes

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NEW: The Federal Reserve is expected to pause its aggressive series of interest rate hikes, ending a string of 10 consecutive rate increases that stretches back 15 months.

expect the Federal Reserve to pause rate hikes on Wednesday as it assesses the ongoing effect of its previous policy decisions.

Various meats are seen at Lincoln Market, June 12, 2023 in the Prospect Lefferts Gardens neighborhood in the Brooklyn borough of New York City.Meanwhile, three of the nation's 30 largest banks failed over a weekslong stretch beginning in March. A jobs report earlier this month showed that the labor market grew robustly in May, adding 339,000 jobs compared to Wall Street estimates of just 195,000.

 

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