Economists and financial markets had expected the pause in the Fed’s aggressive rate-hiking campaign, after several Fed officials signaled they anticipate a further slowing of the US economy as it continues to absorb the effects of higher borrowing costs. The Fed’s post-meeting statement noted that “economic activity expanded at a strong pace in the third quarter” — a recent development that has puzzled some economists.
The Fed chief stressed that it “is still likely to be true, not a certainty, but likely” that the central bank would need to see weaker growth and a softer job market to “fully restore price stability.” It’s unclear if inflation can continue to slow without those two areas showing a consistent slowdown. Defeating inflation without a sharp rise in unemployment would be known as a “soft landing” — and some officials are hopeful for that outcome.
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelinesThe 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. U.S. Read more ⮕
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelinesThe 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. Read more ⮕
Federal Reserve expected to leave interest rates unchanged despite stubborn inflationA surging economy has complicated the fight to cool price increases. Read more ⮕
Live updates: Markets await latest Federal Reserve decision on ratesThe Federal Reserve is set to make an announcement on rates at 2 pm ET. Markets are expecting another pause in the central bank’s rate-hiking campaign as the economy continues to absorb the effects of higher borrowing costs. Read more ⮕
Fed Reserve keeps interest rates at 22-year highDuring November and December, the Rock Church will host nine food distributions throughout San Diego. The distributions are free and open to the community. Read more ⮕
Federal Reserve leaves interest rates unchangedThe latest decision by the Federal Reserve to hold off on increasing interest rates any further may signal that the U.S. economy is moving in the right direction. CBS News business analyst Jill Schlesinger and J.D. Durkin, a host for the financial news site ‘TheStreet,’ join CBS News to discuss the decision. Read more ⮕
