Federal Reserve likely to skip rate hike despite elevated inflation

Korea Times News ·
Economy Central Banks United States
South Korea

WASHINGTON — The Federal Reserve is expected to stand pat on interest rates Wednesday even though inflation has accelerated in the past couple of months as the Iran war has caused spikes in oil and gas prices. The Fed's latest policy meeting concludes less than a week before the midterm elections, which have focused heavily on concerns about the cost of living and affordability. Consumers have…

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