The Fed will meet to set short-term interest rates on May 3. Wall Street currently expects the Fed sees a balanced chance of the Fed either making a 0.25-percentage-point hike or holding rates steady. The Fed likely wouldn’t disagree with that assessment, but is waiting to assess incoming data.
However, the bigger question is what happens for the remainder of 2023. The Fed expects to hold rates at elevated levels for the rest of the year. However, markets estimate that the Fed may cut rates by September, based on economic weakness. The Fed meets eight times a year to set rates, so there is no meeting for April.
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