Key Points
Most economists expect the Federal Reserve to pause interest-rate increases next week for the first time in 15 months and leave policy on hold through December, even as it confronts a resilient US economy and persistent inflation...
The Federal Open Market Committee will keep rates steady at its June 13-14 meeting at the 5%-5.25% range, though officials face a closer call in July on what to do, according to economists surveyed by Bloomberg...
Chair Jerome Powell had hinted at a suspension of the tightening campaign last month, suggesting that he favored waiting to evaluate the lagged effects of past moves and the impact of recent bank failures on credit availability...
The FOMC's median projection in its quarterly "dot plot" Summary of Economic Projections is expected to show the policy benchmark at 5.1% at the end of 2023 identical to what the economists expect the actual rate to be and in line with the March projection..
"We expect a hawkish pause at the June FOMC meeting, with the FOMC choosing not to hike, but signaling an expectation of additional hiking through the SEP," said Nomura Securities economists Aichi Amemiya, Jeremy Schwartz and Jacob Meyer, in a survey response...
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