FOMC expected to pause rate hikes

by NAFCU Newsroom

The Federal Open Market Committee (FOMC) begins its two-day monetary policy setting meeting today. It is expected to hold the federal funds rate at its current range of 5 to 5.25 percent after 10 previous meetings ending with consecutive hikes.

The committee’s May meeting minutes indicated the debt ceiling could impact future decisions; however, Congress cleared legislation to avoid default and broader economic impacts.

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