US Fed likely to pause rate hikes despite higher inflation | National

The US Federal Reserve is widely expected to hold interest rates steady on Wednesday after a summer of mixed economic data, while leaving the door open to another hike if needed.

The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a level not seen for 22 years as it tackles inflation still stubbornly above its long-term target of two percent. 

After falling sharply over the last year, inflation has ticked up again in recent months due to a spike in energy costs, keeping up . . .