Fed Eyes Two More Hikes

Federal Reserve officials decided to maintain interest rates after raising them ten consecutive times. Still, they indicated their readiness to raise rates the following month if the economy and inflation remained uncontrolled. The officials projected two more rate increases for the year, signaling a slower pace of hikes rather than a complete halt. According to the Fed's post-meeting statement, the decision to hold steady rates implied it might be short-lived. Projections indicate that most officials expect two more rate hikes this year, possibly reaching 5.5% or higher. The economy has slightly cooling, but ongoing hiring and wage growth could sustain higher inflation. The housing market has improved, highlighting the Fed's challenges in managing the economy and balancing supply and demand.