The Fed to hold interest rates steady this week

Although the inflation rate has increased to 3.7% and people in America have been facing problems due to high living costs, the Federal Reserve is likely to maintain the same interest rates this week. This is because of the price hikes that have resulted from the war that the United States is waging against Iran, making energy more expensive. However, the central bank only hiked interest rates last month, and further hikes may be placing undue strain on an economy in which people are already feeling the brunt of high interest rates. Investors watching the CME Group’s FedWatch tool now see just less than a 10% probability of another quarter-point hike in October.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cryptopolitan.