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Fed likely to keep rates on hold and sketch a bright outlook

By MARTIN CRUTSINGERNovember 5, 2018 GMT

FILE- In this Oct. 31, 2018, file photo Federal Reserve Chair Jerome Powell looks over papers as the Federal Reserve Board holds a meeting at the Marriner S. Eccles Federal Reserve Board Building in Washington. With the economy strong, wages rising and unemployment at a near-five-decade low, the Federal Reserve remains on track to keep raising interest rates, just not this week. After the Fed’s latest policy meeting, it’s expected to signal a healthy outlook for the economy but to hold off on any further credit tightening, most likely until December. A rate hike in December would mark the fourth this year. (AP Photo/Jacquelyn Martin, File)

WASHINGTON (AP) — With the economy strong, wages rising and unemployment at a near-five-decade low, the Federal Reserve remains on track to keep raising interest rates — just not this week.

After the Fed’s latest policy meeting, it’s expected to signal a healthy outlook for the economy but to hold off on any further credit tightening, most likely until December. A rate hike in December would mark the fourth this year.

Further rate increases are expected in 2019, though just how many is a subject of speculation. On the eve of Congress’ midterm elections, the U.S. economy remains vigorous even in its 10th year of expansion — the second-longest such stretch on record.