Inflation cooled considerably from last June through June this year. But the Fed might raise rates in July to keep driving inflation down further.
— when the Fed announces its decision on rates on Wednesday.
The Fed had been raising rates at each meeting since March 2022 and paused for the first time in June. In a note to investors, Adams indicated that he expects the Fed will signal Wednesday that another “skip” or pause is likely at its meeting on Sept. 19 and Sept. 20. The Fed, he said, will likely signal that some additional interest rate hikes could be"warranted in the second half of 2023 unless inflation and wage growth slow materially."Fed's wording will be key on Wednesday
Swonk wrote in a report issued Monday:"Austan Goolsbee of the Chicago Fed has been clear that he believes the Fed should be done and could dissent but has been reluctant to actually pull that trigger. He is not alone. Raphael Bostic of the Atlanta Fed has voiced his desire to pause for longer; it would be a victory for Powell to get another unanimous vote.
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