The Federal Reserve is unlikely to raise interest rates, which could harm economic stability.

According to a report by SEI analyst Jim Smigel, the Federal Reserve faces a dual mandate of supporting full employment and price stability, making a direct interest rate hike less likely due to potential negative impacts on the economy and labor market. He anticipates that global central banks will, to some extent, follow the Fed's policy pace to mitigate instability in exchange rates and capital markets.