Federal Reserve expected to tap brakes on rate hikes
The decision would represent a win for the Trump administration, whose allies have urged the central bank against hiking just days before midterms.
The Federal Reserve is widely anticipated to maintain interest rates steady on Wednesday, with an increase slated for December. This move would be favorable for the Trump administration, which has pushed for caution ahead of the midterms. While Federal Reserve Chair Kevin Warsh has not clearly indicated his stance, other officials have signaled a preference for a measured approach amidst conflicting data.
TD Securities analysts noted on Friday that the decision would not be without controversy, as they anticipate three dissenting voices. Some argue the Fed should expedite rate hikes to curb inflation, given the ongoing Iran war and its impact on prices.
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