Federal Reserve officials meet Tuesday and Wednesday for the first time since Chairman Jerome Powell said last month that the central bank needed to shift its focus toward preventing higher inflation from becoming entrenched and away from fostering a rapid rebound in hiring from the pandemic. … parts of the Fed’s statement or Mr. Powell’s postmeeting press conference could provide clues on how officials see the prospect for rate increases next year. … Fed officials’ economic projections to be released Wednesday could shed additional light on changes to their policy outlook. In September, they were evenly divided between whether they would likely start lifting interest rates in 2022 or in 2023. The new projections could show most now expect multiple rate rises next year.
Source: Wall Street Journal
