Fed meeting july 2022

June 13 (Reuters) - Federal Reserve officials sit down Tuesday for their first meeting in 15 months with no pre-determined interest rate hike on the table in what amounts to the debut gathering of the "will-they-or-won't-they" era. With still-too-hot inflation riding their heels but abundant uncertainty about both the economic outlook and the lagged effects of 10 rate hikes since March 2022, a breather from increases looks to be in the cards when the rate-setting Federal Open Market Committee meeting concludes Wednesday. But it may be a very short-lived hiatus. That at least appears to be the latest "consensus" across the community of Fed watchers who've been either doubling down on longstanding calls, switching them, or - often in the same breath - throwing their hands and saying anything could happen. The Fed will likely “leave rates unchanged but warn that additional tightening is still possible in the months ahead,” analysts at Wrightson ICAP said in predicting the Fed's benchmark overnight lending rate would sit pat at 5-5.25%. But, reflecting the hard time the team at Wrightson and other private economists have had making up their own minds since the Fed in May set the stage for a meeting-by-meeting approach from there, the firm told clients: “We wouldn’t have been surprised if the Fed had chosen to tighten again this month, but a majority of FOMC members, including the leadership, seemed to favor a pause.” Over at Bank of America, economists have come down on the sa...

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TAMPA, Fla., July 15 (Reuters) - Federal Reserve officials signaled Friday they will likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant larger increases than anticipated later in the year. Data released earlier this week showing inflation had accelerated to an annual rate of 9.1% in June raised the possibility the Fed might opt for a larger 1 percentage point rate hike at its next session. But comments from Fed officials on Friday, coupled with data showing economic activity holding up and the inflation outlook among consumers improving, undercut some of the urgency for a larger increase. St. Louis Fed President James Bullard, among the chief advocates of quicker and larger rate increases, said the "hot" inflation reading for June warrants pushing the target federal funds rate to a range of between 3.75% and 4.00% by the end of this year, a half percentage point higher than his prior year-end aim. "The Fed has to react ... charting out a course that is somewhat more aggressive over the second half of this year," Bullard said at an event organized by the European Economics & Financial Centre in London. But he also said he was indifferent about whether the U.S. central bank approves a 0.75-percentage-point rate increase this month, as policymakers have flagged, or boosts that to a full percentage point. "It probably doesn't make too much difference to do 100 basis points here and l...

Dashia is a staff writer for CNET Money who covers all angles of personal finance, including credit cards and banking. From reviews to news coverage, she aims to help readers make more informed decisions about their money. Dashia was previously a staff writer at NextAdvisor, where she covered credit cards, taxes, banking B2B payments. She has also written about safety, home automation, technology and fintech. The Federal Reserve is "Since early last year, the FOMC has significantly tightened the stance of monetary policy," said Fed Chair Jerome Powell at a June 14 But this latest rate hike pause is uncharted territory. Though inflation has slowed, it still remains higher than the Fed's 2% target goal, which means there's still work to be done to reach the goal. Most experts expected this move, however. "It's understandable that the Fed would pause the rate increases this month, as there is a growing body of evidence that inflation is cooling in many areas. However, it is certainly not yet under control," said John Blizzard, president and CEO of Below, we'll unpack what this pause in rate hikes means, when rate hikes may resume, and how you can prepare for what's next. Is this the end of the Fed's rate hikes? The Fed's decision to pause rate increases keeps the target federal funds rate at a range of But only time will tell whether the Fed will continue pausing rate hikes or simply skip this month and resume increasing in July. The Fed plans to evaluate different economic f...

Federal Reserve Chair Jerome Powell maintains the central bank has the tools it needs to bring high inflation under control. Win McNamee/Getty Images With prices rising at their fastest pace in a generation, the Federal Reserve is ratcheting up its fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by an additional three-quarters of a percentage point. This is the fourth time the central bank has raised rates this year. It follows an increase of the same size in June — rate hikes at this pace and magnitude have not occurred since the late 1980s. Despite these fast and furious moves, the central bank has its work cut out for it. Its goal is to rein in inflation without kickstarting a recession. "The labor market is extremely tight, and inflation is much too high," Fed Chair Jerome Powell said at a news conference, where he explained the "unusually large" move up in rates. He and his colleagues are trying to fight inflation by tackling demand. They are pushing up the cost of of credit — what consumers and companies pay to borrow money — and they are trying to deal with a jobs market the Fed chair has called "unsustainably hot," where wages are rising fast because many businesses are paying more to find workers. In a statement, the Fed said that some parts of the economy — like spending and production — have weakened. However, it noted that "job gains have been robust in recent months, and the unemployment rate has remained low." The key goal, o...