Federal Reserve officials may keep interest rates stable at their sixth consecutive decision-making meetingpennmag3515, and may imply that inflation is higher than expectedpennmag3515Against the background of, there will be no plan to cut interest rates in the near future.

The Federal Open Market Committee is expected to maintain its target range for benchmark interest rates at 5. 5.pennmag3515.25%-5pennmag3515.5%, which was the first 20-year high 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.