Fed Meeting: Will Interest Rates Rise or Remain Steady?

The Federal Reserve is set to meet on Wednesday, July 29th, and investors are anticipating whether interest rates will remain unchanged. At its previous meeting in June, the central bank declined to submit individual economic projections, but nearly half of policymakers indicated support for a rate hike later this year.

Rising oil prices have surged past $100 a barrel last week, suggesting that inflation may persist as a concern in the near term. Experts predict that the Fed will hold its benchmark rate steady within a target range of 3.5% to 3.75%, according to CME FedWatch.

Nigel Green, CEO of deVere Group, notes that 'The Fed will find holding steady a harder case to make than it looked even a few weeks ago.' The probability of a rate hike at Wednesday's meeting has been rising, with CME FedWatch showing a 36% likelihood that the central bank will increase its benchmark rate next week.