What you should know as the Fed nears the peak of its rate-hiking cycle
By CORA LEWIS
Associated Press
NEW YORK (AP) — The Federal Reserve’s likely decision Wednesday afternoon to leave interest rates alone for the first time in 11 meetings will raise hopes that it may be nearing the end of its rate-hiking campaign to cool inflation. That’s not to say the Fed is done raising rates. Most economists foresee another increase or two, starting as soon as next month. And even after the Fed has stopped hiking, it’s likely to keep borrowing rates at a peak for months to come. Consumers would still have to bear the weight of higher-cost auto loans, mortgages, credit cards and other forms of borrowing.
