The Federal Reserve is poised to leave its key interest rate unchanged at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil and anxious investors.
FILE - Federal Reserve Chairman Jerome Powell speaks at a meeting of the Economic Club of New York, Oct. 19, 2023, in New York. The Federal Reserve is expected to leave interest rates alone when its latest meeting ends Wednesday. But economists will be listening closely to what Chair Jerome Powell says about the possible future path for rates.
“It's clearly a tightening in financial conditions,” Powell said this month. “That's exactly what we're trying to achieve.” And with the future path of rates murkier than usual, investors are demanding higher yields in return for the greater risk of holding longer-term bonds. Powell and other policymakers are hoping to continue making progress toward a so-called soft landing, in which they would succeed in slowing inflation to 2% without causing a deep recession.and the economy is growing at a solid pace, confounding expectations among many economists that a recession would likely be necessary to make much progress.
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