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The Fed's interest rate strategy is getting tricky as plans to skip a hike emerge
By Craig Torres
Bloomberg News
Monday, June 5, 2023
The Federal Reserve’s June meeting is shaping up to be one of the trickiest in its 15-month campaign to tame inflation: Chair Jerome Powell seems intent on skipping an interest-rate increase, while explaining to the public that officials aren’t done yet.
The strategy is sensible, confusing, and risky all at once, Fed watchers say.
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Since March 2022, the U.S. central bank has raised its policy rate at 10 consecutive meetings, to a range of 5% to 5.25%, with the last two increases following bank runs that led to the collapse of four lenders.
Now Powell and several of his colleagues want to take a break at their June 13-14 meeting to assess the outlook, even though their quarterly economic forecasts may show interest rates and inflation moving higher this year than they expected three months ago. ...
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