Leaves the door open to further rate hikes if inflation pressures should accelerate in the months ahead
Economists estimate that sharp losses in the stock and bond markets will have a depressive effect on the economy
While prices for many goods are falling, the price increases for services remain chronically high
The result came amid higher prices and interest rates
Wealth for the median household jumped 37% from 2019 to 2022, helping to sustain economic growth
But prices continue to rise faster than is consistent with the Fed's 2% target
The Fed may be able to avoid a rate hike at its next two-day meeting
This sustained strength makes it likelier that the Federal Reserve will raise its key rate again before year's end
Higher borrowing costs could lead Federal Reserve to forgo another hike
Latest report raises speculation that the Fed will leave interest rates unchanged at its next meeting