The Federal Reserve is anticipated to maintain its current interest rate at the meeting on Wednesday.
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This would mark only the second time in eighteen months that the central bank refrains from a rate hike.
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The federal funds rate is presently at its highest level in 22 years, posing challenges for consumers and businesses seeking loans or credit card payments.
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The Fed's decision is influenced by recent signs of weakness in rate-sensitive sectors and a cooling labor market.
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Although the Fed is holding rates steady, they have left room for a potential hike before the year's end.
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The announcement regarding the interest rate will be made at 2:00 p.m. ET on Wednesday, September 20.
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Crude oil prices experienced a slight decline before the Fed's announcement, standing at $90.42 per barrel.
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Higher oil prices are contributing to increased gas prices, impacting August's inflation rate.
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Over the past year, consumer prices have risen by 3.7%, with a notable spike in gas prices.
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The Federal Reserve, responsible for maintaining economic stability, aims for "maximum employment, stable prices, and moderate long-term interest rates."
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