Federal Reserve Expected to Maintain Rates Unchanged, Rising Energy Prices Viewed as Temporary Phenomenon

Mars Finance reports that according to Jintou, Allspring Global Investments Senior Portfolio Manager Matthias Scheiber stated that the Federal Reserve is very likely to keep interest rates unchanged next week. He believes there is a high probability that the Fed will not cut rates at all, but if energy prices continue to rise, it is expected to have a negative chain reaction on consumer and business confidence. Scheiber also mentioned that before the Middle East conflict, the U.S. economy was expected to achieve approximately 2.5% real GDP growth.