Economists agree the Federal Open Market Committee won't announce a rate hike Wednesday after meeting in Washington, D.C. The expected inaction will follow the Fed's Dec. 16 announcement it raised the federal funds target range to between 0.25% and 0.50%.
"Nothing has changed much in the U.S. economy since the Fed funds rate increased in December last year," CUNA Senior Economist Perc Pineda said.
NAFCU Chief Economist Curt Long agreed, adding the Fed remains concerned about weakness and volatility in financial markets and a lack of progress on inflation.
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