
The Federal Reserve begins its two-day meeting Tuesday amid signs that inflation is not only sticky but also ticking back up, despite rates hovering at the highest level since 2001. The central is expected to hold rates steady at 5.25%-5.5%, where they have been since July, but commentary from Fed Chair Jerome Powell will be particularly scrutinized. That’s after his speech earlier this month, when he largely shut down hopes for rate cuts anytime soon. “Right now, given the strength of the labor market and progress on inflation so far,...