The Federal Reserve is expected to raise interest rates for the 11th time at the end of its meeting Wednesday as it continues its fight against inflation.
Gavekal Research senior U.S. economist Will Denyer provides insight on the Fed's policies on 'Making Money.'is widely expected to deliver another interest rate hike on Wednesday, resuming its campaign to jack up borrowing costs and crush inflation after a brief pause in June.
is even more focused on Chairman Jerome Powell's press conference at 2:30 p.m. ET as they look for additional clues about what comes next in the Fed's inflation fight. Powell may leave the door open to at least one more rate hike this year depending on upcoming economic data releases, even amid signs that inflation is continuing to cool.
"The Fed was lulled into believing that inflation was short-lived in 2021," said Diane Swonk, KPMG chief economist. "Then inflation reversed course and rose… They don't want another ‘head-fake’ by declaring victory too soon; they have already eaten crow on that.
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