The Fed holds rates steady for the third straight time, signaling a pause in hikes—but don’t expect calm for long. With inflation still above target and the job market holding strong, officials are carefully balancing control of prices without crashing the economy. Chair Powell warns more hikes may come if inflation rebounds, and forecasts suggest rates will stay elevated well into next year—with only a few cuts expected by 2024’s end. Markets brace for every data point as the Fed tightens its grip on inflation.
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