Fed to give fresh clues on path of rate cuts

Bold stand: Powell speaks during his appearance before the House Financial Services Committee in Capitol Hil. His views expressed there are more encouraging than most of his colleagues, who emphasised they’ll be patient on any rate cuts. — AP

NEW YORK: The Federal Reserve (Fed) will likely avoid signalling an imminent rate cut this week, staying focused on stubborn inflation while keeping one eye on a slowly rising jobless rate.

The Federal Open Market Committee (FOMC) is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting, a two-decade high first reached last July.