Federal Reserve officials left interest rates unchanged in their June decision and predicted they would cut borrowing costs just once before the end of 2024, a sign they plan to be patient before making a U-turn in their fight against rapid inflation. Central bankers raised interest rates rapidly between early 2022 and July 2023, taking … Read more
A new wave of political pressure greeted Fed Chairman Jerome Powell as he and his colleagues gathered in Washington this week to discuss the direction of interest rates and a cooler-than-expected inflation reading on Wednesday. reinforced that consideration. From the left, the immediate reaction from Senator Martin Heinrich, the chairman of the Joint Economic Committee … Read more
American households hoping that interest rates will soon fall will have to wait a little longer. The Federal Reserve is expected to keep the key interest rate unchanged on Wednesday, at least until there are clearer signs that inflation is rising more slowly. But forecasters will be listening to Jerome H. Powell, the Fed chairman, … Read more