The Globe and Mail reports in its Tuesday, July 25, edition that when U.S. Federal Reserve officials gather this week for their latest decision on interest rates, they will do so on the cusp of achieving an elusive "soft landing" -- curbing inflation without causing a deep recession. An Associated Press dispatch to The Globe reports that even though the Fed is poised to raise its key rate on Wednesday for the 11th time since March, 2022, to its highest point in 22 years, no one is panicking. Economists and financial traders have grown more optimistic that what some call "immaculate disinflation" -- a steady easing of inflation pressures without an economic downturn -- can be achieved. Most economists think this week's hike in the Fed's benchmark rate, to about 5.3 per cent, will be the last, though they caution that that rate, which affects many consumer and business loans, will likely stay at a peak until well into 2024. Harvard University economist Jeremy Stein says: "I would have been not superoptimistic about a soft landing a few months ago. Now, I think the odds are clearly going up." Economists at Goldman Sachs have downgraded the likelihood of recession to just 20 per cent, from 35 per cent earlier this year.