The Federal Reserve wraps up its regularly scheduled two-day meeting with a policy statement at 2 p.m. ET Wednesday, but no one expects the central bank to bring rates down from a 23-year high. If anything, markets are bracing for a "higher-for-longer" message from the Fed.
The central bank's Federal Open Market Committee (FOMC) left interest rates unchanged at its last meeting in March, and indications this time around, including from the latest economic reports, point to more of the same with inflation staying sticky and growth coming more slowly.
"The acceleration in [Tuesday's] Employment Cost Index (ECI) supports the narrative that the last leg down in inflation is going to be slow and uneven and reinforces our call for the Fed to remain on hold until September," Jay Hawkins, senior economist at BMO Capital Markets, said.
Here, Kiplinger investing and economic experts provide live guidance and commentary on the Fed meeting and what it could mean for you going forward.
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