US Fed Likely To Keep Rates Steady As Hopes Of Early Cuts Fade

The US Federal Reserve is widely expected to hold interest rates between 5.25 percent and 5.50 percent at the end of its policy meeting (Credit: AFP)

The US Federal Reserve is expected to hold interest rates steady for a sixth straight meeting Wednesday, with a summer start to cuts looking less likely owing to stubborn inflation.

For months, the US central bank has maintained its benchmark lending rate at a 23-year high to cool demand and rein in price increases -- with a slowdown in inflation last year fueling optimism that the first cuts were on the horizon.