Fed struggles to find new leverage as strong economy, inflation refuse to budge much ...Middle East

Facing a stronger-than-expected economy and sticky inflation in core prices, the Federal Reserve signaled Wednesday it’s going to hike interest rates two more times before the year is through despite taking a break in June. The June pause marks the first interval in one of the fastest quantitative tightening cycles in the history of the U.S. central bank, carried out through 10 consecutive hikes since last year that raised interest rates by 5 percent in 15 months. But the Fed’s latest projections show the cycle isn’t yet finished, with rates expected to increase to a range of 5.5 to 5.75 percent at some point this year, up from a current range of 5.0 to 5.25. In the wake of major

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