After one more interest rate hike, the Fed may hit the 'pause button'

After the most aggressive interest rate hike in 40 years, the federal reserve is expected to approve another quarter-point increase on Wednesday.

After the most aggressive interest rate hikes in 40 years, the Federal Reserve is expected to approve another quarter-point increase, in its May meeting. The central bank started raising rates 13 months ago, from zero to an anticipated 5.25%.

There is a growing expectation this next hike could be the last, for a while, while the Fed gives the economy a chance to respond. "Are they going to continue on the path of quarter-point rate hikes, or are they going to allow themselves time to see how the economy is doing, see how inflation evolved, and whether they need to continue raising rates?" he wonders. Inflation, and higher borrowing costs over the last year, have taken a significant bite out of household budgets. The nation's credit card debt neared a trillion dollars, by the end of 2022.

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