What to Expect from the US Fed Today?
The United States Federal Reserve System (Fed) has scheduled the interest rate decision announcement at 6 PM UTC today. After a pause in interest rate hikes in June 2023, experts anticipate that the Fed may raise the interest rate by 25 basis points to 5.5%.
Financial experts anticipate that the Fed will take necessary steps to balance the growth and inflation rate to make the economy more resilient. The Fed Chairman, Jerome Powell, may indicate the corrective measures during todayβs policy release.Β
This will be the 11th hike by the US central bank in its past 12 policy meetings. Economists project that this may be a strong move by the Fed to fight inflation.
As the Fed raises interest rates to 5.5%, it would be the highest rate since the 2007-09 financial crisis and recession. The inflation rate is still above the Fedβs target of 2%.Β