The Federal Reserve is poised to allow time to gauge the impact of its aggressive drive to tame inflation.
WASHINGTON — The Federal Reserve, having raised interest rates at
At the same time, the gradual but steady decline in overall inflation suggests that the Fed’s rate hikes have had some success. The central bank has jacked up its key rate by a substantial 5 percentage points since March 2022.and business borrowing. The Fed’s goal is to achieve the delicate task of slowing borrowing and spending enough to cool growth and tame inflation, without derailing the economy in the process.
“We think next month’s increase is probably the last of the cycle,” said Alan Detmeister, an economist at UBS.
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