Fed's rate hikes probably over, but officials reluctant to say so

Federal Reserve officials are increasingly confident that they don't need to keep raising interest rates to defeat inflation. But they aren't satisfied enough to declare an end to hikes-let alone to start a discussion about lowering rates.

- Nick Timiraos

This leaves them on track to hold rates steady at their December meeting while maintaining public guidance that their next rate change is more likely to be an increase than a cut.

The Fed most recently raised its benchmark federal-funds rate in July to a range between 5.25% and 5.5%. Holding it steady at the Fed's third-consecutive policy meeting would leave it unchanged at least through January.