The Federal Open Market Committee (FOMC) is set to meet this week for its June meeting and many experts anticipate that for the first time in over a year, the committee will hit pause on additional rate hikes for the time being. This is a departure from the ten consecutive rate hikes that have taken place since March, 2022.
Many are anxiously awaiting the Fed’s next move because of the impact that this rate can have on savings accounts, credit cards, mortgage rates, and even your investments.
