What to expect from the Fed

The U.S. Federal Reserve, which will announce its June policies Wednesday, and largely is expected to hold interest rates steady after 10 straight hikes over 15 months.

The breather is intended to allow the Fed to review the effect the hikes have had on fighting high inflation.

While prices continue to rise faster than the Fed would like, a report on Tuesday confirmed overall inflation is cooling.

But even through volatile food and fuel prices are growing at a slower rate, overall inflation remains high..

Analysts expect Fed officials to skip an increase this month but possibly lift rates in July.