No Rate Cuts in Sight: Federal Reserve Expected to Hold Steady on Rates with a 'Bumpier Path' to 2% Inflation
By : Benzinga
Published On: 2024-04-30
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The Federal Reserve is expected to maintain the benchmark federal funds rate at around 5.3% during their meeting due to higher-than-expected inflation in the first quarter. Rate cuts are likely to be postponed, and officials may stress their willingness to keep rates at a level that significantly restrains economic activity for a longer period. Fed Chair Jerome Powell is anticipated to discuss the recent inflation setback and its effect on the interest-rate outlook, with the possibility of either a "bumpier" path to 2% inflation or inflation settling near 3%, which could eliminate the possibility of rate cuts.
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