Rural Radio Network on Nostr: Fed holds interest rates steady at highest level since 2001 ========== The Federal ...
Fed holds interest rates steady at highest level since 2001
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The Federal Reserve decided to hold its benchmark interest rate steady on Wednesday, postponing rate cuts as elevated inflation continues to burden U.S. households. The announcement comes after new government data showed a slowdown in the economy. The Federal Open Market Committee (FOMC) does not anticipate cutting interest rates until it sees sustained downward movement in inflation. Fed Chair Jerome Powell stated that gaining greater confidence in lowering inflation will take longer than expected. The Fed risks a rebound of inflation if it cuts interest rates too quickly. The U.S. economy slowed at the beginning of 2024, with GDP recording 1.6% annual growth in the first quarter, well below expectations. The Fed Funds rate stands between 5.25% and 5.5%, matching its highest level since 2001.
#FederalReserve #InterestRates #Inflation #UsEconomy
https://ruralradio.com/abc_news/fed-holds-interest-rates-steady-at-highest-level-since-2001-abcid8b40a6b4/
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The Federal Reserve decided to hold its benchmark interest rate steady on Wednesday, postponing rate cuts as elevated inflation continues to burden U.S. households. The announcement comes after new government data showed a slowdown in the economy. The Federal Open Market Committee (FOMC) does not anticipate cutting interest rates until it sees sustained downward movement in inflation. Fed Chair Jerome Powell stated that gaining greater confidence in lowering inflation will take longer than expected. The Fed risks a rebound of inflation if it cuts interest rates too quickly. The U.S. economy slowed at the beginning of 2024, with GDP recording 1.6% annual growth in the first quarter, well below expectations. The Fed Funds rate stands between 5.25% and 5.5%, matching its highest level since 2001.
#FederalReserve #InterestRates #Inflation #UsEconomy
https://ruralradio.com/abc_news/fed-holds-interest-rates-steady-at-highest-level-since-2001-abcid8b40a6b4/