The Federal Reserve Releases Updated Economic Outlook After 2-Day Meeting


The Federal Reserve releasing updated economic predictions this afternoon after its 2-day meeting. Bankrate's Greg McBride says the last time the FED did this was back in March, but the economy is doing dramatically better now. He does not expect a rate hike this year or next, since the U-S is more than 7-million jobs short of pre-pandemic levels, but he says there's a chance the FED could pencil in an initial hike in 2023. McBride says the first clue it's coming will be when the FED dials back its bond purchases. Mortgage rates will increase after that, so if you are thinking about refinancing now is the time to do it.


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