The Federal Reserve is expected to maintain interest rates at their current level in its policy determination, despite the possibility of future rate increases if necessary.

Federal Reserve Chair Jerome Powell aims to adopt a neutral stance, as the central bank has made significant progress in implementing its monetary policy tightening measures.

In September, the Federal Reserve maintained interest rates within a range of 5.25% to 5.50%, the highest level observed in the past 22 years.

Powell’s revised projections indicated that a further rate increase would be necessary to restore inflation to its targeted level of 2%.