Forex
Fed Expected to Keep Rates Steady Amid Inflation Concerns
The Federal Reserve is set to make its interest rate decision on Wednesday, and markets are expecting no change in the benchmark rate.
According to CME Group's FedWatch tool, there is a 64% probability of no change, with a slight chance of rates being raised.
Dallas Fed President Lorie Logan has been the most vocal advocate for higher rates, suggesting policy should be 'modestly' tighter.
Recent inflation readings have eased immediate concerns, with the consumer price index posting a 0.4% decline in June.
The decision is scheduled for 2 p.m. ET, followed by Chair Kevin Warsh's news conference at 2:30 p.m.