Meridian Daily News

The Great Rate Holding Pattern: Central Banks Stare Down Sticky Inflation

By Evelyn Hartwell · 6 min read

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The mahogany tables at the Federal Reserve’s headquarters in Washington D.C.

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The consensus is deafening: the Federal Open Market Committee (FOMC) will keep the benchmark federal funds rate at 5.25% to 5.50%.

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To understand why we’re stuck, you have to look at the ghost of 2021.

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Since March 2022, the Fed has executed 11 rate hikes.

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Across the Atlantic, the Bank of England faces a similar, perhaps more painful, dilemma.

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The data landing on central bankers' desks this week is a mixed bag of frustration.

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