Federal Reserve is likely to hold interest rates steady in October. Here's what that means for consumers
Mark Zandi, chief economist at Moody's Analytics, said Fed officials have signaled they don't plan to hike rates in October. Zandi is forecasting that the Fed will raise short-term interest rates one more time after its scheduled meeting on Dec. 8 and Dec. 9. Swonk noted that inflation remains an issue, but rate hikes at every meeting aren't likely on the table.