Federal Reserve: Rate hikes expected to pause

COLUMBIA, S.C. (CNN)– The Federal Reserve is expected to issue a change this week that could impact borrowing costs for all Americans.

After ten consecutive interest rate increases since March 2022, some economists predict the Fed is going to pivot this month and issue a rare rate pause on the hikes.

Economists say if the Fed keeps current rates unchanged it means borrowing costs would remain stable.

That creates a favorable environment for consumers looking to make large purchases like buying a home or car.