Thornburg Investment Management Co-Head of Investments & Managing Director Jeff Klingelhofer in Bankrate

June Fed meeting preview: Officials tee up rate pause, but how long will it last?

Fifteen months and 10 consecutive rate hikes later, the Federal Reserve may be content to keep interest rates steady at its June rate-setting meeting.

Call it more of a beat or a breather rather than a finale.

Chair Jerome Powell & Co. have been laying the groundwork for a “pause” for almost three months. Interest rates are now the highest in 16 years, eclipsing inflation. Borrowing costs have hit where Fed officials thought they would peak back in March, and also stand more than two percentage points higher than the level thought to restrict economic growth.

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