The Fed looks poised to pauseS&P 500 futures are up on Wednesday as investors bet that the Fed will not change its prime lending rate, thanks to an array of unexpectedly positive economic data.
If the central bank moves as expected, it would break a streak of 10 consecutive rate increases, back to March of 2022 — the Fed’s most aggressive pace since the 1980s.
That said, many expect the decision on Wednesday to represent a pause, not a reversal, of a hawkish anti-inflation policy.
The central bank’s chair, Jay Powell, is expected to suggest at his post-meeting news conference on Wednesday that he isn’t done raising rates.
Mr. Patterson believes that the Fed is planning at least one more rate increase this year.
Persons:
Jay Powell, Powell, ” Andrew Patterson, DealBook, Patterson
Organizations:
Vanguard