As anticipated by the markets the Fed stayed the course and kept interest rates unchanged at 5.25-5.50% for the September 2023 meeting. In his speech, Powell said the committee would like to see continued progress in the CPI coming down towards the committee’s target goal of 2% inflation among other factors before deciding the Fed’s next move. With that said, Mr. Powell suggested that additional rate hikes are likely this year.

See Full Article Here