Fed Expected to Pause Rate Hikes But Hold Off on Cuts for Now
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The Federal Reserve is expected to pause interest rate hikes at its next meeting, but a rate cut is unlikely for now.
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Inflation has showed signs of cooling from its high point last year, while job growth remains steady.
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Fed Chair Powell has indicated the central bank is getting close to the stance needed to bring inflation down over time.
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While a rate cut doesn't seem imminent, pausing hikes will still bring relief for consumers facing high costs.
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Administration officials remain confident the economy can achieve a soft landing, citing recent GDP growth and other positive indicators.