The Federal Reserve is highly unlikely to raise interest rates

In all likelihood, the Federal Reserve Board will leave interest rates unchanged when it concludes its two-day meeting on Wednesday. Raising interest rates will not reduce gasoline demand or lower gasoline prices, but it would place additional strain on households. Another important reason the Federal Reserve is unlikely to raise interest rates this week is that consumer spending remains positive but fragile. AdvertisementAt the Federal Reserve’s last meeting, voting members were divided over whether to raise interest rates. Meanwhile, John Williams, president and CEO of the Federal Reserve Bank of New York, stated only two weeks ago that there was no need to change interest rates.