Federal Reserve officials may keep interest rates stable at their sixth consecutive decision-making meetingrealslotsforrealmoneyonline, and may imply that there will be no plans to cut interest rates in the near future despite higher-than-expected inflation.

The Federal Open Market Committee is expected to maintain its target range for benchmark interest rates at 5. 5.realslotsforrealmoneyonline.25%-5.5%, which was the first 20-year high reached in July. The interest rate decision and an announcement on a possible balance sheet reduction process will be announced at 2 p.m. Washington time. Federal Reserve Chairman Powell will hold a press conference in 30 minutes.

Policymakers are reluctant to start cutting interest rates until they determine that inflation is close to 2%, which they believe is appropriate for a healthy economy. Although they had planned three interest rate cuts in 2024 as early as March, Powell may say those plans have been shelved and will depend on improving inflation.