Fed Meeting: Clues on Interest Rates and Consumer Resilience

The Federal Reserve is expected to keep its key interest rate steady at its upcoming meeting, but investors will closely watch Fed Chair Jerome Powell's press conference for hints about future rate hikes. The Fed's anti-inflation campaign has already pushed up borrowing costs for mortgages, credit cards, and auto loans. While some experts believe the Fed is done raising rates due to tightening financial conditions, there is still a chance rates could go higher in the future to combat potential upward pressure on prices. The conflicting data on consumer spending and borrowing makes the central bank likely to adopt a wait-and-see approach.