FOMC to Maintain Steady Rates Until Inflation Outlook Becomes Clear

The Federal Reserve is anticipated to maintain current interest rates during the upcoming FOMC meeting. A rate hike is likely postponed until at least September or possibly December, as the central bank assesses the inflation outlook. While U.S. economic data appears positive, there are ongoing concerns regarding a potential global slowdown following Brexit. The inflation indicator that the Fed closely monitors stands at 1.6%, which is below the target rate of 2%. The Fed plans to release its latest policy statement at 2:00 PM ET on Wednesday.