The New Indian Express on Nostr: US Federal Reserve keeps interest rates at 23-year high ========== The US Federal ...
US Federal Reserve keeps interest rates at 23-year high
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The US Federal Reserve held interest rates steady at a 23-year high of 5.25–5.50 percent. The central bank cited a 'lack of further progress' towards its two percent inflation target as the reason for keeping rates unchanged. The Fed stated that it does not expect to cut rates until it has 'greater confidence' that inflation is moving sustainably towards its target. The decision comes as inflation has accelerated, dampening hopes of an early rate cut. The central bank also announced that it would slow the pace of reduction of its securities holdings starting in June.
#UsFederalReserve #InterestRates #Inflation
https://www.newindianexpress.com/world/2024/May/01/us-federal-reserve-keeps-interest-rates-at-23-year-high
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The US Federal Reserve held interest rates steady at a 23-year high of 5.25–5.50 percent. The central bank cited a 'lack of further progress' towards its two percent inflation target as the reason for keeping rates unchanged. The Fed stated that it does not expect to cut rates until it has 'greater confidence' that inflation is moving sustainably towards its target. The decision comes as inflation has accelerated, dampening hopes of an early rate cut. The central bank also announced that it would slow the pace of reduction of its securities holdings starting in June.
#UsFederalReserve #InterestRates #Inflation
https://www.newindianexpress.com/world/2024/May/01/us-federal-reserve-keeps-interest-rates-at-23-year-high