The Federal Reserve paused interest rates hikes on Wednesday, but left the door open for future increases as it assesses its progress in combating inflation.
While the Fed decided to leave things unchanged today, Federal Reserve Chairman Jerome Powell said the committee that votes on these matters largely believes at this point that more rate hikes will be “appropriate” before the end of the year to get inflation to its goal point.
“The process of getting inflation back down to 2% has a long way to go,” Powell said in a press conference Wednesday.  
In a statement Wednesday, the Federal Reserve indicated that a pass at this time…