Zachary Halaschak is an economics reporter at the Washington Examiner. Before moving to Washington, he worked in Alaska, covering politics, government, and crime for the Ketchikan Daily News. While there, Zach won the Alaska Press Club’s second-place award for best reporting on crime or courts for his coverage of a local surgeon’s alleged murder.
The Federal Reserve is set to keep its interest rate steady after central bank officials convene this week to discuss progress in bringing down inflation.
In the Fed’s preferred gauge, the personal consumption expenditures price index, inflation also held steady at 3.4% for the year ending in September. “No rate hike is expected,” Greg McBride, chief financial analyst at Bankrate, told the Washington Examiner. “But I think we’ll otherwise hear a pretty familiar refrain — that the Fed is committed to price stability, that there still is a long way to go to get inflation to 2%, and that they will maintain the posture that allows them the flexibility to raise interest rates again if needed.”
Before all FOMC meetings, there is a"media blackout" period in which Fed officials aren’t allowed to comment to the press. During his last speech before that blackout, Powell worked to reassure markets about the Fed’s course of action. “We are attentive to recent data showing the resilience of economic growth and demand for labor. Additional evidence of persistently above-trend growth, or that tightness in the labor market is no longer easing, could put further progress on inflation at risk and could warrant further tightening of monetary policy,” he said.
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