After months, Fed expected to skip rate hike

Amid high inflation and the Federal Reserve raising interest rates at the fastest pace in four decades. They are expected to put a pause on raising rates for the first time in 15 months. This is to allow time to gauge the impact of its aggressive drive to tame inflation. Fed Chair Jerome Powell and other top policymakers have also indicated that they want to assess how much a pullback in bank lending might be weakening the economy.