The Fed is holding rates steady and predicts only one cut this year

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

Fed holds rates steady after inflation report: Live updates

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