Federal Reserve to pause rate hikes in the fight against inflation

The Federal Reserve is set to hold interest rates steady in its fight against inflation1 5.
The Fed seeks to maintain a stable inflation rate, with its current target being inflation averaging 2% per year over the long term2 4.
The decision to pause rate hikes comes amid concerns about the impact of rising inflation on the economy and the potential for a prolonged period of high inflation1 5.
The Fed's projections will also reveal the path for inflation over the next three years, which could provide insight into how long inflation may remain above the Fed's 2% goalpost5.
The decision highlights the importance of monitoring inflation and its impact on the economy, particularly in the context of a global pandemic and its impact on supply chains and consumer behavior2 5.