Fed Watchers Expect Steady Rates, But September Hike Looms

The Federal Open Market Committee will meet this week to decide whether to adjust interest rates. Fed watchers expect the central bank to hold rates steady, and that Federal Reserve Chairman Kevin Warsh will be more concise in his statements than his predecessor.

Warsh's first meeting in June saw a much shorter statement from the Fed, and he has scrapped forward guidance, a brief summary of where members of the Fed's leadership think rates are likely headed. Despite this, analysts still have their own forward guidance.

Randy Vogel, head of fixed income at Wilmington Trust, believes the Fed will hike rates at its next meeting in September if inflation data continues to move higher instead of lower.