Will the Fed Raise Interest Rates in 2023? What to Know Ahead of Jan. 31. thumbnail

Will the Fed Raise Interest Rates in 2023? What to Know Ahead of Jan. 31.

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Fed raise interest rates. A view of the Federal Hall on Wall Street representing Pre-Market Stock Movers.

Source: f11photo/Shutterstock.com

Investors and consumers around the country and wondering if the Fed will raise interest rates in 2023.

While it’s true that the Fed is considering slowing down the increase of interest rates this year, that doesn’t mean they’re off the table. That means traders may potentially see another rate hike after the agency’s next meeting on Jan. 31.

Keep in mind that the Fed’s goal with raising interest rates has to do with inflation. The group wants to bring inflation back down to 2%. While rising inflation has started to cool, it’s nowhere close to those levels, which points toward another rate increase.

The Latest Interest Rate Discussions

Minutes from the Fed’s meeting in mid-December were recently released to the public. They give traders an insight into what the central bank has planned. Below is what Capital Economics Chief North American Economist Paul Ashworth told Reuters about the minutes.

“Our view is still that rapidly easing inflation, combined with a notable drop-off in employment growth will alter the landscape quite dramatically over the first half of this year. After a final 50 (basis points) of tightening over the first quarter, taking the fed funds rate to a peak of close to 5%, we still expect the Fed to be cutting rates again before the end of this year.”

As for market news outside of the possibility that the Fed will raise interest rates, we’ve got traders covered with today’s latest happenings!

That includes all the top stock market stories for Thursday! A few examples are what’s going on with shares of Mullen Automotive (NASDAQ:MULN), Huadi International (NASDAQ:HUDI), and Magic Empire Global (NASDAQ:MEGL) stock today. You can find out more on these matters at the links below!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.