The Federal Reserve will likely pause its 15-month interest rate hike campaign Wednesday after government data pointed to a sharp slowdown in inflation.
Jason Katz, UBS managing director and senior portfolio manager, discusses whether cooling inflation is a buy signal for stocks on 'Varney & Co.'is widely expected to forgo an interest rate hike this week, pausing a 15-month campaign during which it jacked borrowing costs to crush runway inflation.
Although inflation remains about twice the Fed's preferred target rate of 2%, the slowdown gives officials fodder to skip what would be the 11th straight rate increase. Federal Reserve Chairman Jerome Powell arrives to speak during a news conference after a Federal Open Market Committee meeting in Washington, D.C., Sept. 21, 2022.
"Having come this far, we can afford to look at the data and the evolving outlook and make careful assessments," Powell said during a Fed research conference in May.However, a handful of more hawkish officials — including St. Louis Fed President James Bullard and Cleveland's Loretta Mester — have hinted they are"There will be some hawks who dissent tomorrow on a pause, but that’s where the Fed is going," Cox said.
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