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The Federal Reserve held off hiking interest rates – it may still be too early to start popping the corks

By D. Brian Blank, Assistant Professor of Finance, Mississippi State University
Federal Reserve officials held interest rates steady at their monthly policy meeting on Sept. 20, 2023 — only the second time they have done so since embarking on a rate-raising campaign a year and a half ago. But it is what they hinted at rather than what they did that caught many economists’ attention: Fed officials indicated that they don’t expect rates to end 2023 higher than they did in June – when they last issued their projections.