Rural Radio Network on Nostr: Fed expected to hold interest rates steady at highest level since 2001 ========== The ...
Fed expected to hold interest rates steady at highest level since 2001
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The Federal Reserve is expected to announce its decision on whether to adjust its benchmark interest rate. Economists widely expect the Fed to leave interest rates unchanged, which would push back rate cuts expected later this year. Inflation remains more than a percentage point higher than the Fed's target rate of 2%. Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering economic activity. The U.S. economy slowed at the beginning of 2024, with GDP recording 1.6% annual growth in the first quarter, well below expectations. Fed Chair Jerome Powell has stated that the Fed has time to let incoming data guide its decisions on policy. The Fed Funds rate currently stands between 5.25% and 5.5%, matching its highest level since 2001.
#FederalReserve #InterestRates #Inflation #UsEconomy
https://ruralradio.com/abc_news/fed-expected-to-hold-interest-rates-steady-at-highest-level-since-2001-abcid0bf26bc8/
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The Federal Reserve is expected to announce its decision on whether to adjust its benchmark interest rate. Economists widely expect the Fed to leave interest rates unchanged, which would push back rate cuts expected later this year. Inflation remains more than a percentage point higher than the Fed's target rate of 2%. Interest rate cuts would lower borrowing costs for consumers and businesses, potentially triggering economic activity. The U.S. economy slowed at the beginning of 2024, with GDP recording 1.6% annual growth in the first quarter, well below expectations. Fed Chair Jerome Powell has stated that the Fed has time to let incoming data guide its decisions on policy. The Fed Funds rate currently stands between 5.25% and 5.5%, matching its highest level since 2001.
#FederalReserve #InterestRates #Inflation #UsEconomy
https://ruralradio.com/abc_news/fed-expected-to-hold-interest-rates-steady-at-highest-level-since-2001-abcid0bf26bc8/