"Federal Reserve's Rate Pause Sparks Concerns for Future Economic Pain"

The Federal Reserve is expected to pause its yearlong campaign of raising interest rates to curb inflation, offering a reprieve to consumers and businesses. However, the central bank's cautious approach increases the odds that the economy could slow gradually rather than sharply drop into recession. The Fed has raised rates 10 times in a row, but the labor market is booming, home prices are holding up better than forecast in the face of higher mortgage rates, and consumers are still spending. On top of that, inflation is drifting down only slowly.