US Fed likely to pause rate hikes and raise growth forecast

📆 9/20/2023 10:45 AM
📰 trtworld

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After 11 interest rate hikes since March last year, inflation has fallen sharply but remains stuck above the Fed's long-run target of two percent per year.

That would leave the Fed's key lending rate at its current range between 5.25 and 5.50 percent - a 22-year high.

Policymakers on the FOMC are looking to keep the country on what Chicago Fed President Austan Goolsbee calls the"golden path," attempting to slow down inflation while averting a surge in unemployment and a major economic slowdown.

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