Fed meeting live updates: No hike expected, but all eyes on Warsh for what's next
Markets are pricing in less than a 10% chance that the FOMC follows up its quarter--point hike in September with another increase.
Federal Reserve Chair Kevin Warsh is set to address inflation concerns during a news conference on Wednesday, even as the central bank maintains its current interest rates. Inflation has surged in recent months due to the Iran war and rising oil and gas prices. Warsh's briefing follows the Fed's rate decision in September, which was the first increase in three years.
Despite the hike, inflation remains above the Fed's 2% target. The Fed's actions could impact Americans, as higher rates make mortgages, auto loans, and credit card borrowing more expensive. Warsh's remarks at the press conference will be closely scrutinized for hints about the central bank's future rate decisions.
Written by urgent.news from PBS NewsHour's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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