The US central bank opened a key policy meeting Tuesday (Oct 31), with officials widely expected to hold interest rates at a 22-year-high as they balance efforts to lower inflation while staving off a recession. Interest rate hikes slow down price increases by raising the cost of borrowing from the bank, which dampens economic activity and weakens the labour market. "We anticipate the Fed will keep the federal funds rate unchanged at 5.25 per cent to 5.50 per cent," said EY chief economist Gregory Daco, on the outcome of the two-day meeting. He added that Fed Chair Jerome Powell would likely stress that the central ... (full story)