Fed Not Likely to Lower Rates Amid Disappointing Economic Growth, Says Economist

If Fed politicians do not want Americans’ significant economic difficulties to worsen, the boldness of inflationary pressures during the administration of President Joe Biden leaves the Federal Reserve with no choice but to raise interest rates or keep them at their current levels at their Wednesday level meeting.
Ivan Pongracic, a professor in Hillsdale College in Michigan, said he has just seen scant improvement in achieving the Fed’s stated inflation target, which he had stated.
When it met at the end of January, the plan- making Federal Open Market Committee ( FOMC) decided to keep interest rates within a range of 5.25–5.50 percentage, and a similar choice is possible in the current economic conditions, Mr. Pongracic and some believe….

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