There’s much more uncertainty this time around as to whether the Fed will hike by a quarter of a percentage point, or hit pause until the banking fiasco is truly over
Financial markets expect an increase of a quarter of a percentage point, which would bring the Fed’s base policy rate to between 4.75 and 5 percent. But nothing is guaranteed, and some Fed experts are urging policymakers to hit pause. Their argument is that it is too soon to know if the banking fiasco is over, and that the financial system may still be too fragile to absorb another hike right now, even though inflation remains too high.
An interest rate announcement will come at 2 p.m. Eastern, along with a fresh set of economic projections on inflation, the unemployment rate, economic growth and what the central bank expects to do with interest rates in the future.
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