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Fed Likely to Hold Rates Steady Ahead of Midterms

The US Federal Reserve is expected to keep interest rates unchanged despite elevated inflation, ahead of the congressional midterm elections.

The Eccles Building of the Federal Reserve in Washington, D.C., 2013
The Eccles Building of the Federal Reserve in Washington, D.C., 2013 · Photo: Farragutful · CC BY-SA 3.0 · Wikimedia Commons

The Federal Reserve is likely to keep interest rates unchanged at its upcoming decision and move into a wait-and-see mode, The Hill and radio station WTVB reported. The anticipated move comes ahead of the US congressional midterm elections.

According to a report by BNN Bloomberg, the US central bank is expected to skip an interest rate hike despite elevated inflation levels across the economy. An official decision by bank officials and further details have not yet been released.

Sources: WTVB, The Hill, BNN Bloomberg

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