Central Banks
Fed Set to Raise Rates to 22-Year High and Decide If It's Done Hiking
- July FOMC statement guidance is likely to be same as June’s
- Powell’s press conference will provide clues on another hike
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Federal Reserve policymakers are poised to hike interest rates to the highest level in 22 years, while retaining a tightening bias that signals the possibility of an additional move later in the year.
The Federal Open Market Committee is expected to raise rates a quarter point to the 5.25% to 5.5% range, an 11th increase since early 2022. It will release the decision at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.