Most economists expect the Federal Reserve to lift interest rates one more time next week as it ends a 16-month hiking cycle that has been the most aggressive fight against US inflation in 40 years.
The Federal Open Market Committee will raise rates a quarter point at its July 25-26 meeting to a range of 5.25% to 5.5%, the highest since 2001, according to economists surveyed by Bloomberg. With price pressures diminishing last month, almost all economists expect no change to rates at the September meeting and just one-fifth of the group predicts another hike by the November meeting.
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