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Fed poised to punt rate hike into the summer wind

14 June 2023 09:25 (UTC +04:00)

The Federal Reserve is expected to leave interest rates unchanged on Wednesday for the first time since the U.S. central bank kicked off a historically aggressive round of monetary policy tightening in March of 2022, APA reports citing Reuetrs.

But don't call it a pivot or a pause.

Policymakers at the end of their two-day meeting may well signal more rate increases are still to come once they take time to assess how the economy is evolving, whether the financial system remains stable, and if inflation is continuing to fall.

The Fed is scheduled to release its policy statement and new quarterly economic projections at 2 p.m. EDT (1800 GMT). Fed Chair Jerome Powell will hold a press conference half an hour later.