Fed rate cut chances shift ahead of FOMC this week

The Federal Reserve has had a tough time lately. Sticky inflation and rising unemployment, driven by layoffs and less hiring, boxed it into a corner until September last year, prompting fierce pushback from the White House and likely costing Fed Chair Jerome Powell his job when his term as Chairman expires on May 15, 2026. Still, the Fed cut interest rates three times by year's end, prompting hope among would-be borrowers that the trend would continue at the first Federal Open Market Committee (FOMC) me ...