Chairman Powell anticipates addressing inflation into 2026.
The Federal Reserve wrapped up a two-day long policy meeting this week, where the members decided to leave the interest rate unchanged until their next meeting.
Members of the Federal Reserve meet eight times per year, or twice per quarter, to adjust their financial policies for the current moment. They have been raising lending interest rates significantly over the last year to address inflation, with the interest rate currently sitting at a range of 5.25-5.50 percent.
Federal Reserve Chair Jerome Powell said after the meeting that though they expect to have to fight inflation into 2026, they are “in a position to proceed carefully” with future policy moves.
Referring to the rates of inflation, interest, and the job market, he stated, “We want to see convincing evidence really, that we have reached the appropriate level.“
As the Lord Leads, Pray with Us…
- For prudence for Chairman Powell as he heads the Federal Reserve.
- For members of the Federal Reserve to seek God’s guidance as they evaluate inflation and make decisions regarding interest rates.
Sources: Reuters, NY Times
