Fed set to pause rate hikes, but don’t count out another increase

Fed chair Jerome Powell has signalled that Fed leaders would prefer to wait to evaluate the impact of past increases on the economy as they near the end of their rate-hiking campaign. — Blomberg

NEW YORK: The Federal Reserve (Fed) is expected to pause its interest-rate hikes for the second time this year following a slowing in inflation while leaving the door open for another increase as early as November.

The Federal Open Market Committee (FOMC) will keep rates steady at its September meeting in a range of 5.25% to 5.5%, a 22-year high.