Interest rates are expected to remain unchanged on Wednesday, but the Federal Reserve may take further action to lower inflation.

Many economists and Fed watchers expect one more rate hike before a long break.

Rates are at 5.25%-5.5% after 11 rate hikes since March 2022, the central bank’s most robust inflation fight since the 1980s.

Fed Chair Jerome Powell is likely to state that inflation is still a problem and that the Fed will continue to chase 2%.

Investors will obtain updated economic projections that may lower inflation and raise GDP.

The Fed will announce its monetary policy decision at 2:00 p.m. ET Wednesday, followed by a Powell press conference at 2:30.