Big Wall Street banks expect the Fed to keep interest rates on hold this week

Most big Wall Street banks expect the Fed to leave interest rates unchanged this week, while maintaining a hawkish stance due to a strong job market and rising inflation. Several economists said the meeting will oscillate between a "skip" and a "rate hike," with most banks expecting the Fed to get the market ready for a July rate hike. Money markets now expect a pause in rate hikes this month is more than 70 percent likely, while rate cuts are expected to be postponed until next year.