US Federal Reserve expected to pause rates before midterm elections
Business
The US Federal Reserve is expected to leave interest rates unchanged next week, just before the November 3 midterm elections.
Even though inflation is still a big worry, the Fed seems to be playing it safe for now.
Markets think another rate hike could come later this year, but don't expect any surprises on Wednesday.
Loretta Mester: Fed decisions reflect data
Inflation has been stubbornly high, with energy prices and global tensions making things tougher.
The Fed recently raised rates in September, but hitting its 2% target remains tricky.
Former Cleveland Fed head Loretta Mester says decisions are based on economic data, not politics, and that the committee is aiming for balance as it watches how things unfold.