The Fed speaks

The Federal Reserve delivers an economic and interest rate policy update today.

After the June meeting of Fed policymakers, the central bank signaled that it may raise its short-term interest rate twice by the end of 2023. In March, the Fed had indicated no rate hikes would occur before 2024. The Fed’s low-interest rate policies have helped fuel a swift rebound from the pandemic recession, but now the central bank is under pressure to manage rising inflation.