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Fed expected to keep rates unchanged for now despite high prices

Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleNew Fed Chair Kevin Warsh told Congress earlier this month that he had ‘no tolerance’ for elevated inflation (AP Photo/Jose Luis Magana)Federal Reserve policymakers are growing impatient with inflation, which has remained above their 2% target for over five years, though they are widely expected to keep benchmark interest rates unchanged at their meeting on Wednesday.While an immediate rate hike is unlikely, there is a strong consensus among Wall Street traders, with 76% predicting a rate increase in September, as policymakers' patience with high and persistent inflation is reportedly exhausted. Escalating geopolitical tensions, particularly rising violence in Iran and its impact on global oil supplies and prices through blockades of key shipping lanes, are significantly complicating the Fed's efforts to control inflation. Additional inflationary pressures stem from tariffs on foreign goods implemented by President Donald Trump and a surge in investment for artificial intelligence data centers, which is driving up the cost of computer chips, equipment, and electricity. Despite some cooling in core inflation and a temporary dip in gasoline prices, influential Fed members are advocating for rate hikes to ensure inflation returns to the 2% target, signaling a potential shift towards more aggressive monetary policy in the near future. More bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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